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Nufarm/Sumitomo deal approved

Nufarm’s shareholders have approved Sumitomo Chemical’s bid to acquire a 20% stake in the business at Aus$14 (US$12.60 at the current rate) per share. The vote was taken at an extraordinary general meeting (EGM) on March 2nd. Sumitomo’s board of directors approved the deal in late January ( Agrow No 585, p 2) after Nufarm rejected an acquisition bid by Sinochem in December ( Agrow No 583, p 2).

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