Thu, Nov. 5, 4:13 PM
- DuPont (DD +0.8%) is in discussions with Syngenta (SYT +6.3%) and Dow Chemical (DOW +0.4%) about potential major agriculture deals, Dow Jones reports.
- DD is said to be discussing potential combinations involving its ag division with SYT and DOW, as deal talk has gathered steam since Monsanto (MON -1%) abandoned its effort to acquire SYT in August; MON instead could face the threat of much-enlarged competitors if its rivals end up combining and it strikes no combination of its own.
- U.S. farm income is on pace to hit its lowest level in nearly a decade, pressuring profits in the global market for GMO seeds and chemicals to kill weeds and insects.
Tue, Oct. 27, 11:11 AM
- Less than a week after Dow Chemical announced a review of its farm chemicals and seeds unit, DuPont (DD +1.8%) declared it's in M&A talks with rivals for its agriculture business.
- "We will do what's right for our shareholders to create value for them," interim Chief Executive Edward Breen said on a post-earnings call.
- Falling crop prices and rising fertilizer output have triggered the recent talk of consolidation among farm-focused companies.
Thu, Oct. 8, 8:07 AM
- Apollo Global Management (NYSE:APO) is exploring the feasibility of making an offer for Chemours (NYSE:CC), the former DuPont (NYSE:DD) chemical manufacturing unit, and using it as a platform for consolidating other titanium dioxide makers, Bloomberg reports.
- APO is said to have held preliminary talks with bankers about a buyout of Chemours and then approaching other companies, including Tronox (NYSE:TROX), about a tie-up to generate scale and cost efficiencies.
- Among potential obstacles to a deal are a tax bill for DuPont if Chemours is taken private too soon after the July spinoff, and the ~$4B in debt resulting from a payment made to DuPont prior to the split.
Mon, May 4, 6:35 PM
- Syngenta (NYSE:SYT) fell 7.6% in today's trade, giving up some but not all of its 16% gain on Friday that was sparked by talk that Monsanto (NYSE:MON) had approached the company about a takeover.
- The biggest concern for regulatory approval may involve what would be an unprecedented market share in soybeans and corn seeds for the combined company, and analysts say SYT’s operations in those areas would appeal to a range of buyers including Dow Chemical (NYSE:DOW), DuPont (NYSE:DD), BASF (OTCQX:BASFY, OTCPK:BFFAF) and Bayer (OTCPK:BAYZF, OTCPK:BAYRY).
- Colin Isaac of Atlantic Equities says the deal he always expected to happen is a DuPont purchase of Dow's agriculture unit; CEO Andrew Liveris has suggested Dow is open to divesting the unit, and MON's becoming a much stronger competitor after an SYT takeover could be a catalyst for Dow to more seriously consider exiting the business, which Issac says would be prime pickings for DuPont and its Pioneer seed business.
- A $19.5B bid by DuPont for Dow’s ag sciences business could generate a 7% return on invested capital, according to a report by Laurence Alexander at Jefferies, while adding that such a move is less likely until agricultural markets improve from current trough levels.
Wed, Apr. 22, 2:25 PM
- DuPont (DD +0.9%) agrees to acquire a microbiome discovery company Taxon Biosciences in a move it hopes will give it an edge in an emerging agricultural market for biological crop products.
- DuPont does not say how much it is paying but says the California-based company brings a "broad intellectual property estate" that will contribute to new DuPont seed treatments, and foliar and soil applications for row crops, fruits and vegetables.
- DuPont executive VP Jim Borel tells Reuters he expects new products in the company's biologicals pipeline to start hitting the market within about five years, adding that the biologicals market is growing rapidly "and it's an area where science can make a real difference."
Mon, Mar. 23, 12:35 PM
- Origin Agritech (SEED +24.5%) soars in a move attributed to a WSJ article discussing China's desire to develop a local seed company, potentially through a renewed bid for SEED, which controls the rights to China's first genetically modified corn.
- SEED last year rejected a $60B takeover bid from China's state-backed Hunan Xindaxin but its top executives believe another attempt is coming, as China looks to find a way to can keep foreign giants such as Monsanto (NYSE:MON), DuPont (NYSE:DD) and Syngenta (NYSE:SYT) at bay while significantly increasing the country’s spending on R&D.
- China is the world’s second largest seed market but limits foreign producers to minority stakes in joint ventures, and its domestic seed makers are too small and scattered for the government to corral in pursuit of controlling the biotechnology that underpins the competitive power of global seed manufacturers.
Dec. 19, 2014, 4:33 PM
- S&W Seed (NASDAQ:SANW) agrees to acquire of all of DuPont Pioneer's (NYSE:DD) alfalfa production and research facility assets, as well as all non-GMO alfalfa germplasm, for up to $42M.
- S&W also agrees to be DuPont Pioneer's sole supplier of alfalfa seed through 2024.
- S&W expects the alfalfa business to contribute $26M of incremental annual revenues in FY 2015 and $40M in FY 2016.
Sep. 2, 2014, 9:56 AM
Sep. 2, 2014, 7:10 AM
- Dupont (NYSE:DD) has sold its 67% stake in its polymers joint venture, Speciality Polymers Antwerp, to minority partner Borealis.
- Under the terms of the deal, DuPont will continue to provide ethylene vinyl acetate and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate and acrylate copolymers from the facility.
Aug. 28, 2014, 10:43 AM
- Syngenta (SYT -0.3%) is open to a deal, whether as an acquirer or as a target, perhaps with Dow Chemical (DOW -1.4%) or DuPont (DD +0.2%), Bloomberg speculates.
- SYT and Monsanto (MON -0.5%) held preliminary talks with advisers earlier this year about a combination that never came to fruition, which shows SYT’s willingness to make a deal, analysts say.
- One option discussed is a takeover of Dow’s agricultural business, which Dow is open to divesting; SYT also could merge with DuPont and then spin off the U.S. company’s non-agricultural businesses.
- Dow may be a better candidate to use a SYT acquisition to relocate overseas for tax advantages, analysts suggest, but with the Obama administration looking at ways to discourage tax-inversion acquisitions, DuPont’s well-known brands and sales to the U.S. military may spark greater political pushback.
Aug. 15, 2013, 3:04 AM
- Activist investor Nelson Peltz has reportedly taken a 2.2% stake worth $1.3B in DuPont (DD). Peltz's Trian Fund Management owns 21M shares, well above the publicly disclosed figure of 5.8M as of June 30.
- Trian recently met with Du Pont CEO Ellen Kullman to discuss the hedge fund's proposals, as contained in a "white paper," about how to boost growth. This follows flat in sales in H1 and an increase of just 3.6% in 2012.
- Trian might push DuPont to break up some of its disparate parts, although it's worth noting that the company is already looking to sell a chemical business that makes refrigerants and pigments for paint.
Jul. 23, 2013, 7:38 AMMore on DuPont (DD +2.7%) Q2: DuPont is looking to sell or spin off its performance-chemicals unit as part of a strategy to become a "higher growth, less cyclical" company, and as a way to insulate itself from stagnating sales of paint pigments. The business includes DuPont's Titanium Technologies and Chemicals & Fluoroproducts operations, which generated total sales of $7.2B in 2012. The company has also announced a management reshuffle. (PR) | Jul. 23, 2013, 7:38 AM | Comment!
Jan. 29, 2013, 3:43 PMDuPont (DD -0.4%) is putting its cyanide business on the block and has hired Morgan Stanley to advise on a potential sale, Reuters reports. The unit, which sells the chemical for use in gold mining, could be worth more than $700M. DD is under pressure to focus more on its food and ag products; it sold its performance coatings unit last August to Carlyle Group for $4.9B. | Jan. 29, 2013, 3:43 PM | Comment!
Aug. 30, 2012, 7:47 AM
Aug. 29, 2012, 8:59 AMSyngenta (SYT) agrees to pay DuPont (DD) $125M to buy the latter's professional products insecticide business, which includes the Advion and Acelepryn brands, and other intellectual property. Syngenta says the deal will help it increase its profitability in the lawn and garden markets. (PR) | Aug. 29, 2012, 8:59 AM | Comment!
Aug. 6, 2012, 8:44 AM
E I du Pont de Nemours & Company is a science and engineering company that offers products and patents applications for agriculture, nutrition, electronics and communications, safety and protection, home and construction, transportation and apparel.
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