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Nufarm take-over bid lapses

Discussions over a possible take-over of Nufarm by a Chinese-led consortium have ceased without any formal offer being made. China National Chemical Corporation, the Blackstone Group and Fox Paine Management III made a conditional Aus$3,000 (US$2,760 million) bid for Nufarm last month and the parties agreed to an exclusive due diligence period (Agrow No 531, p 1). However, the consortium was unable to formalise its proposal prior to the expiry of the four-week exclusivity period on December 10th, Nufarm points out.

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