FMC receives approval for acquiring DuPont crop protection assets

5:53 AM, 22nd September 2017

FMC receives approval for acquiring DuPont crop protection assets

With this acquisition, FMC agricultural solutions will become the fifth largest crop protection chemical company in the world by revenue.

PHILADELPHIA, US: FMC Corporation (FMC) said that it has received approval from the Competition Commission of India (CCI) for the proposed acquisition of a significant portion of DuPont's crop protection business. The CCI is the final jurisdiction to grant antitrust clearance needed to satisfy regulatory conditions for closing.

FMC will acquire DuPont's global chewing pest insecticide portfolio, its global cereal broadleaf herbicides, and substantially all of DuPont's global crop protection R&D capabilities. Additionally, DuPont will acquire FMC's health and nutrition segment and receive $1.2 billion in cash.

"FMC is pleased to have received CCI's approval. We are on track to close our transactions with DuPont on 1 November 2017,” said Pierre Brondeau, FMC president, CEO and chairman.

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