FMC to Acquire Part of Divested DuPont Crop Protection
FMC Corporation announced Friday it would acquire a portion of DuPont's crop protection business that DuPont is divesting as part of its merger agreement with Dow. Additionally, DuPont will acquire FMC Health and Nutrition and receive $1.2 billion in cash.
The European Union agreed to approve the Dow-DuPont merger, if the companies divested some assets, including research and development. FMC will acquire DuPont’s global chewing pest insecticide portfolio, its global cereal broadleaf herbicides, and a substantial portion of DuPont’s global crop protection research and development capabilities.
After closing of the acquisition, FMC Agricultural Solutions will become the fifth largest crop protection chemical company in the world by revenue, with estimated annual revenue of approximately $3.8 billion. The transaction is subject to the closing of the Dow and DuPont merger. Closing is expected to occur in the fourth quarter of 2017.
Source: NAFB News