S. Africa Blocks DuPont Unit's Bid For Pannar

Law360, New York (December 8, 2010, 4:57 PM EST) -- South Africa's competition regulator has decided to veto DuPont Co. unit Pioneer Hi-Bred's bid to take over Johannesburg-based Pannar Seed (Pty) Ltd.

Pioneer plans to appeal the South African Competition Commission's decision rejecting the company's deal to buy a majority share in the seed company, a spokeswoman for the DuPont unit said Wednesday.

"The demand for improved agricultural productivity and food security exists in Africa today, and will only increase in the future," the company said in a statement. "We believe this partnership is significant in...
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