Platform acquires Chemtura's pesticides business for $1 billion

摘要

Platform Specialty Products (Miami) has entered into a definitive agreement to acquire Chemtura's pesticides business for $1 billion. The price consists of $950 million in cash plus 2 million shares of Platform common stock. The deal is expected to close in the second half. Platform acquired MacDermid (Denver), a specialty chemical maker, in October last year and renamed the business Platform Specialty Products. Chemtura's pesticides business reports net sales of approximately $449 million and adjusted Ebitda of $101 million. The business provides seed treatment and pesticide products for a wide variety of crop applications. The portfolio includes seed treatments, insecticides, miticides, herbicides, fungicides, plant growth regulators, and adjuvants.