Cases & Deals

Sumitomo Chemical acquires 20% of NuFarm for $622 million

Client(s) Sumitomo Chemical Co., Ltd.

Jones Day advised Sumitomo Chemical, a company listed on the Tokyo Stock Exchange ("Sumitomo") in its strategic investment and alliance with Nufarm Limited, a company listed on the Australian Securities Exchange and one of Australia's largest agro-chemical companies with an annual turnover in excess of $2.6 billion. The strategic investment and alliance was effected by Sumitomo making a tender offer to acquire up to 20% of the issued shares in Nufarm for $610 million and a commitment to take up 20% of the shares to be issued by Nufarm in a $250 million rights issue scheduled to be launched in late April 2010.