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Sumitomo offer for Nufarm gets support
Apr. 13, 2010
Agricultural chemicals firm Nufarm Ltd says a tender offer for Nufarm shares from Japans Sumitomo Chemical Company Ltd has received acceptances totalling 81.45 per cent of all Nufarm shares.
Sumitomo had offered to acquire up to 20 per cent of the total issued shares in Nufarm at $14 per share.
Of the total acceptances, 61.45 per cent will be scaled back.
The tender offer had opened on March 12 and closed at 1900 AEST on April 9.
Nufarm said that on April 15, 2010, each Nufarm shareholder who accepted the Sumitomo offer will be sent a statement setting out how many of their Nufarm shares have been acquired by Sumitomo under the offer.
Payment will then be sent to each Nufarm shareholder who accepted the offer.
Source: AAP
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