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Reuters: Platform Specialty may get $4B-plus offer for agrochemicals unit

Published 07/24/2017, 12:42 PM
© Reuters.  Reuters: Platform Specialty may get $4B-plus offer for agrochemicals unit
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  • Platform Specialty Services (PAH +5.3%) jumps following a Reuters report that Indian agrochemicals producer UPL Ltd. is exploring a $4B-plus bid for PAH's agrochemicals business.
  • UPL is in talks with P-E firm New Mountain Capital about teaming up on an offer, and would challenge a rival offer for the unit by a P-E consortium of Blackstone (BX +0.5%) and CVC Capital Partners, according to the report.
  • A competition would be welcomed by PAH and its biggest shareholder, Bill Ackman's Pershing Square (NYSE:SQ) hedge fund, which owns 14.5% of the company.
  • Now read: Garrison Capital May Have Another Cut Coming


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