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Litigants in MAI takeover action in talks

Makhteshim-Agan Industries’ (MAI) major shareholder, Koor Industries, is seeking “to reach a compromise” with petitioners of a class action in respect of a takeover deal for MAI. It has also submitted an appeal request on an interim ruling to the Israeli High Court, following a petition for approval of the class action (see this issue). “There is no certainty that a compromise will be reached,” Koor cautions. The Chinese state-owned China National Chemical Corporation (ChemChina) has agreed to buy a 60% controlling stake in MAI ( Agrow No 616, p 4).

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