ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Tax rules scuttle CF and OCI merger

by Alexander H. Tullo
May 30, 2016 | APPEARED IN VOLUME 94, ISSUE 22

CF Industries and OCI have canceled their $8 billion fertilizer merger in light of Treasury Department rules meant to discourage tax inversions, acquisitions in which U.S. companies lower their tax bills by domiciling overseas. CF is U.S.-based; OCI is Dutch. The combined company would have been the world’s largest publicly traded nitrogen fertilizer maker. The Treasury rules, announced in April, “materially reduced the structural synergies of the combination,” the companies say. CF will pay OCI a $150 million termination fee. The huge planned merger between Pfizer and Allergan was similarly scuttled by the new tax rules.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment