FMC Corporation (FMC - Free Report) said that it has secured approval from the Competition Commission of India (CCI) for its proposed purchase of a significant portion of DuPont's Crop Protection business.
The CCI is the final jurisdiction to grant antitrust approval required to satisfy regulatory conditions for the closure of the deal. FMC Corp. expects to complete the transaction on Nov 1, 2017.
FMC Corp., in March, agreed to buy a major portion of DuPont's Crop Protection business. Under the deal terms, FMC Corp. will buy DuPont's Cereal Broadleaf Herbicides and Chewing Insecticides portfolios as well as substantially all of the latter’s crop protection research and development pipeline. These assets generated revenues of around $1.4 billion last year. As part of the deal, DuPont will also purchase FMC's Health & Nutrition business.
The planned acquisition has provided a significant growth platform for FMC’s Agricultural Solutions unit. After deal closure, FMC Corp.’s Agricultural Solutions unit will become the fifth biggest crop protection chemical company in the world by sales with estimated annual revenues of around $3.8 billion. The acquisition will significantly increase the company’s presence in Asia and Europe and will be immediately accretive to its adjusted earnings per share.
FMC Corp. has outperformed the industry it belongs to over a year. The company’s shares have rallied around 87.3% over this period, compared with roughly 29.1% gain recorded by the industry.
FMC Corp. is benefiting from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. The company is investing in technologies in its agriculture business and launching new products with a goal to enhance value to farmers.
FMC Corp. is also witnessing strong momentum in its Lithium unit. The company is expanding its lithium hydroxide production capacity.
FMC Corp. currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the basic materials space include Kraton Corporation , Kronos Worldwide, Inc. (KRO - Free Report) and Koppers Holdings Inc. (KOP - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kraton has expected earnings growth of 7.2% for the current year.
Kronos has expected long-term earnings growth of 5%.
Koppers has expected long-term earnings growth of 18%.
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FMC Corporation (FMC - Free Report) said that it has secured approval from the Competition Commission of India (CCI) for its proposed purchase of a significant portion of DuPont's Crop Protection business.
The CCI is the final jurisdiction to grant antitrust approval required to satisfy regulatory conditions for the closure of the deal. FMC Corp. expects to complete the transaction on Nov 1, 2017.
FMC Corp., in March, agreed to buy a major portion of DuPont's Crop Protection business. Under the deal terms, FMC Corp. will buy DuPont's Cereal Broadleaf Herbicides and Chewing Insecticides portfolios as well as substantially all of the latter’s crop protection research and development pipeline. These assets generated revenues of around $1.4 billion last year. As part of the deal, DuPont will also purchase FMC's Health & Nutrition business.
The planned acquisition has provided a significant growth platform for FMC’s Agricultural Solutions unit. After deal closure, FMC Corp.’s Agricultural Solutions unit will become the fifth biggest crop protection chemical company in the world by sales with estimated annual revenues of around $3.8 billion. The acquisition will significantly increase the company’s presence in Asia and Europe and will be immediately accretive to its adjusted earnings per share.
FMC Corp. has outperformed the industry it belongs to over a year. The company’s shares have rallied around 87.3% over this period, compared with roughly 29.1% gain recorded by the industry.
FMC Corp. is benefiting from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. The company is investing in technologies in its agriculture business and launching new products with a goal to enhance value to farmers.
FMC Corp. is also witnessing strong momentum in its Lithium unit. The company is expanding its lithium hydroxide production capacity.
FMC Corp. currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the basic materials space include Kraton Corporation , Kronos Worldwide, Inc. (KRO - Free Report) and Koppers Holdings Inc. (KOP - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kraton has expected earnings growth of 7.2% for the current year.
Kronos has expected long-term earnings growth of 5%.
Koppers has expected long-term earnings growth of 18%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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