Sinochem Bids $2.5B For Nufarm

Law360, New York (September 30, 2009, 8:05 AM EDT) -- China's Sinochem Corp. has bid AU$2.8 billion ($2.5 billion) for Australian farm chemicals group Nufarm Ltd., the companies said Monday.

Sinochem has entered into a heads of agreement to purchase all of Nufarm's 218 million ordinary shares at AU$13 per share, the companies said.

By the term of the heads of agreement, Sinochem will conduct a due diligence review of Nufarm for five weeks, from Oct. 15 to Nov. 18. The agreement also allows the parties to negotiate a transaction implementation agreement, which will be subject...
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