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BIZCHINA / Center |
ChemChina eyes overseas acquisition(China Daily)
Updated: 2007-11-03 09:15 China National Chemical Corp (ChemChina) offered A$2.96 billion (US$2.7 billion) for Australian chemical maker Nufarm Ltd and invited two US private equity firms to join the bid, a source said. ChemChina submitted a letter to Nufarm on Wednesday with an indicative bid of A$17.25 per share, said the source, declining to be identified. The company asked Blackstone Group LP, manager of the world's biggest buyout fund, and Fox Paine & Co to take minority stakes in Nufarm, the source said.
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