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MERGERS AND ACQUISITIONS 2016

A round-up of recent mergers and acquisitions.

The last couple of months have seen a number of significant mergers and acquisitions in the agricultural and pest control industries.

ChemChina to acquire Syngenta

ChemChina has made a cash offer to acquire Syngenta at a value of over US$43 billion. The Syngenta board is unanimously recommending the offer to shareholders and the transaction is expected to be concluded by the end of the year. One of the cited reasons behind the ChemChina acquisition being, “Syngenta’s leading competitive edge in the global agricultural technology field, its array of modern chemistry and its experience and know-how in promoting the highest environmental standards.”

Michel Demaré (chairman of Syngenta) said, “In making this offer, ChemChina is recognising the quality and potential of Syngenta’s business. This includes industry-leading R&D and manufacturing and the quality of our people worldwide. The transaction minimises operational disruption; it is focused on growth globally, specifically in China and other emerging markets, and enables long-term investment in innovation. Syngenta will remain Syngenta.”

The terms of this agreement will enable Syngenta to retain its name, its management, its broad portfolio and geographic presence. Syngenta will remain headquartered in Switzerland and is committed to continue company operations to ensure it will be business as usual for their customers, business partners, employees, shareholders and the communities they serve.

Dow and DuPont to merge

In December of 2015, Dow and DuPont announced a “merger of equals” forming a new company called DowDuPont. The intention is to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax- free spin-offs. The merger is expected to conclude in the second half of 2016, subject to the standard approvals.

The three new entities would be focused on agriculture, material science and specialty products. This would occur as soon as feasible, which is expected to be 18-24 months following the closing of the merger, subject to regulatory and board approval.

The “pure play” agriculture company will unite the DuPont and Dow seed and crop protection businesses. The combined entity will have “the most comprehensive and diverse portfolio and a robust pipeline with exceptional growth opportunities in the near-, mid- and long-term”. The complementary offerings of the two companies will provide growers across geographies with a broad portfolio of solutions and greater choice. Combined pro forma 2014 revenue for Agriculture is approximately US$19 billion.

Pelsis acquire Tanaco

Pelsis, manufacturer of Insect-O-Cutor, the world’s biggest electronic flying insect control brand, has acquired Tanaco (Denmark). Tanaco business operates primarily in Scandinavia and has a focus on environmentally safe products, including the ‘A Green Way’ brand.