Makhteshim To Buy Albaugh In $1B Weed Killer Tie-Up

Law360, New York (June 28, 2010, 2:46 PM EDT) -- Makhteshim Agan Group, an Israel-based herbicide and insectide maker that brands itself as a leader in branded off-patent crop protection solutions, has entered into a deal to buy Iowa-based herbicide maker Albaugh Inc. for more than $1 billion.

The companies have signed an agreement whereby Albaugh will be bought in exchange for $340 million in cash, $455 million in notes, 59 million shares of Makhteshim — or roughly 12 percent of its market share, and the assumption of $280 million of Albaugh debt, Makhteshim said Sunday....
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