 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
. |
China's Sinochem in record bid for Australia's Nufarm
Sydney (AFP) Sept 29, 2009 Shares in Australian agri-chemical firm Nufarm fell Tuesday after the company said it was in talks with China's Sinochem for a record 2.84 billion dollar (2.48 billion US) takeover. Nufarm Limited announced Monday it had received a non-binding offer from state-owned Sinochem Corporation to potentially acquire all issued ordinary shares in the chemical group. The deal, if completed, would be the largest Chinese takeover of an Australian company. "There are 218 million shares on issue and the indicative price is 13 dollars (per share)," Nufarm spokesman Robert Reis told AFP. Nufarm and Sinochem will work on the proposal on an exclusive basis until December 3 and any takeover would be subject to Australian and Chinese regulatory approval and that of Nufarm shareholders. Nufarm stocks fell on the Australian stock exchange Tuesday, dropping 37 cents, or 3.1 percent, to 11.59 dollars by the end of morning trade. They had risen 7.4 percent Monday to 11.96, still below the offer price. In November 2007 Nufarm gave conditional support to a 3.0 billion dollar takeover from a private equity consortium that included China's state-owned ChemChina. However, that takeover was derailed by the global financial crisis. -- Dow Jones Newswires contributed to this story -- Share This Article With Planet Earth
Related Links Farming Today - Suppliers and Technology
Kenya's tea production drops on drought: Tea BoardNairobi (AFP) Sept 28, 2009 The Tea Board of Kenya said Monday the country's tea production fell 11.6 percent in the six months to August owing to the ongoing drought. Tea Board Managing Director Sicily Kariuki blamed adverse weather conditions especially in the east of the Rift Valley, where production fell by 32 percent. "We have witnessed prolonged dry weather conditions especially east of the Rift, which would ... read more |
. |
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook