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Nufarm Shares Surge
{ 5:27 PM, 6/11/2007 }
{ 4 comments }
{ Link }
Nufarm (NUF) agricultural chemicals maker, has endorsed a $3 billion bid from China's state-owned chemical company, known as ChemChina, to combine their crop protection interests into the biggest producer of its type in the world. If successful, it would also be the biggest bid for an Australian company by a Chinese firm. China National Chemical Corp will pay $17.25 per Nufarm share, or $2.96 billion, in conjunction with private equity firms, Blackstone Group and Fox Paine. NUF shares has closed on Tuesday at $17.45.
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