Mergers and Acquisitions Update: Cnooc Finally Submits APPLICATION, Google Wants To SELL Motorola
EI DuPont de Nemours & Co. (NYSE:DD) DuPont Professional Products insecticide division will be purchased by Syngenta AG (NYSE:SYT). The acquired company is a top provider of innovative products for the home pest control, professional turf, and ornamentals markets. Through the terms of the $125 million transaction, Syngenta will acquire a world-scale business that includes established pest control brands Advion and Acelepryn along with other intellectual property, and a number of employees. The buyer will also have access to the related active ingredients and formulated products from DuPont through exclusive supply and licensing arrangements. The acquisition should close in the fourth quarter.
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Cnooc Limited (NYSE:CEO) has submitted a formal application for government approval of its $15 billion offer to acquire Canada’s Nexen Inc. (NYSE:NXY). Apparently, reciprocity on trade issues by China will not break the deal, according to some analysts. However, since the application was submitted more than a month after the bid was announced, investors could have to wait at least until November or perhaps longer for a decision.
Google Inc. (NASDAQ:GOOG) has recruited Barclays to search out a buyer for Motorola Mobility’s cable hardware division, according to two sources to Bloomberg. The unit, which supplies set-top boxes and cable infrastructure equipment, could bring approximately $2 billion, says one of the sources.
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