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Chemical Week Magazine :: Newsbriefs
Yara Plans to Acquire GrowHow in Fertilizer Megadeal
7:30 AM MDT | August 6, 2007 | Chemical Week Editorial Staff
Yara International (Oslo) says it has acquired the Finnish government’s 30.05% stake in Kemira GrowHow (Helsinki) for an undisclosed sum. The rest of GrowHow is listed on the Helsinki stock exchange. Yara says it will launch a mandatory tender offer for those shares under Finnish stock exchange rules. The GrowHow board has recommended that shareholders accept Yara’s €12.12/share offer, which represents a 30% premium over GrowHow’s closing price on May 23 and values GrowHow at €672 million ($902 million). However, the proposed...
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