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Business
Makhteshim Calls Off Albaugh Deal
by Marc S. Reisch
September 6, 2010
| A version of this story appeared in
Volume 88, Issue 36
Makhteshim Agan Industries, the Israel-based off-patent crop protection specialist, has ended talks to acquire Iowa-based Albaugh, the largest generic crop protection chemical firm in North America. Makhteshim had signed a letter of intent to acquire privately held Albaugh, which has annual sales of about $1 billion, in a $1.3 billion deal initialed at the end of June (C&EN, July 5, page 7). The Israeli firm says it terminated talks after an examination of Albaugh’s records that found “a material deviation” from the data on which Makhteshim initiated talks.
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