In a bold move, UPL announced plans for a heavy weight acquisition of agro chemical manufacturer Arysta LifeScience for a whopping USD 4.2 billion which is close to UPL’s own market capitalization. Post the announcement, the shares of UPL have zoomed up 14 percent in the last two trading sessions.
In a bold move, UPL announced plans for a heavy weight acquisition of agro chemical manufacturer Arysta LifeScience for a whopping USD 4.2 billion which is close to UPL’s own market capitalization. Post the announcement, the shares of UPL have zoomed up 14 percent in the last two trading sessions.
UPL has signed a definitive agreement with Platform Specialty Products Corporation to acquire Arysta LifeScience for USD 4.2 billion (c. Rs 28500 crore). Investor William Ackman’s hedge fund Pershing Square Capital Management owns 14 percent in the Platform Specialty Products Corp, the parent of Arysta LifeScience.
Arysta LifeScience is an agrochemical player with a product portfolio comprising of chemicals to protect crops from weeds, insects and diseases. It was built through the $3.5 billion acquisition of Arysta in 2015, the $1 billion takeover of CAS in 2014 and the $370 million purchase of Agriphar in 2014.
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