The acquisition of Nufarm by ChemChina will not proceed. According to the two sides, the offer on the table was unable to be formalized. The offer was for US $2.6 billion.
Rumors have already begun to swirl about whether another suitor might step up, such as Makhteshim-Agan Industries, which had considered an acquisition of Nufarm in the past.
While analysts suggest that such a deal would be difficult, it would not be out of the question. Doug Rathbone, managing director of Nufarm, even alluded to the possibility that the company may still be entertaining offers. "There have been discussions, but none that are sufficient to present to the board," he said at the company's annual meeting following the announcement that the deal with ChemChina had fallen through.
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