Platform Specialty Products Corp. (PAH), a manufacturer of specialty chemical and printing products, is in advanced talks to buy rival Arysta LifeScience Ltd. for about $3.5 billion including debt, the Wall Street Journal reported FRiday, citing people familiar with the matter.
A deal between the two companies could be reached in the next few weeks unless the talks fall apart, the Journal quoted the people as saying.
Formed through the merger of Japan-based Tomen and Nichimen in 2001, and acquired by buyout firm Permira in 2008 for about $3 billion, Arysta LifeScience is currently among the top 15 agrochemical companies in the world. The company offers insecticides, fungicides, herbicides, biostimulants, and value-added nutrients.
Arysta, which is now based in Dublin, Ireland, filed paperwork with the SEC in September for an initial public offering.
Miami, Florida-based Platform Specialty has signed a number of acquisitions deals recently. In April, Specialty Products agreed to buy Chemtura AgroSolutions, a provider of agrochemicals and seed treatment products, from Chemtura Corp. (CHMT) for about $1 billion in cash and stock. In August, the company agreed to buy Agriphar, a premier European agrochemicals group, in a 300 million euro deal.
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