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BRIEF-FMC Corp to acquire significant portion of DuPont's crop protection business

Published 2017-03-31, 06:12 a/m
© Reuters.  BRIEF-FMC Corp to acquire significant portion of DuPont's crop protection business
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March 31 (Reuters) - FMC Corp FMC.N :

* FMC Corporation (NYSE:FMC) announces acquisition of significant portion of DuPont's crop protection business; simultaneous sale of health and nutrition to DuPont (NYSE:DD)

* FMC will make a cash payment to DuPont of $1.2 billion

* Transactions will be immediately accretive to FMC'S adjusted earnings per share, upon closing

* FMC Corp - FMC health and nutrition will become part of DuPont's nutrition & health segment

* In 2017, FMC expects the acquired business will generate approximately $1.5 billion in revenue and $475 million of EBITDA

* FMC Corp - expects transaction to be immediately accretive to adjusted earnings per share

* Majority of DuPont's crop protection research workforce will transfer to FMC as part of this transaction Source text for Eikon: ID:nCNWkVHBQa Further company coverage: FMC.N

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