Regions :: North Asia :: Japan
Sumitomo Board Approves Investment in Nufarm
10:21 PM MST | January 24, 2010 | Deepti Ramesh
Agchem firm Nufarm (Melbourne) says that the board of directors of Sumitomo Chemical has approved the previously announced proposed investment in Nufarm by Sumitomo. Nufarm signed a memorandum of understanding with Sumitomo last month, according to which Sumitomo proposed to acquire 20% of the issued ordinary shares of Nufarm for A$14/share via a tender offer. Nufarm had terminated discussions last month with Sinochem (Beijing) for the acquisition of Nufarm by Sinochem. Nufarm and Sinochem signed a heads of agreement in September 2009 for a nonbinding proposal...
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