Business Services Industry
Orica rethink pivotal to Incitec deal.
Australasian Business Intelligence, October, 2002
Oct 14, 2002 (Herald Sun - ABIX via COMTEX)
Orica has removed a potential roadblock to the proposed merger of its subsidiary Incitec with Pivot in Australia. Orica on 14 October 2002 dropped its requirement for total ownership of Incitec's industrial chemicals business before the merger could go ahead. Orica wants to merge the fertiliser assets of Incitec with Pivot. It wants to acquire Incitec's industrial chemicals business. Futuris, which has a 21 per cent stake in Incitec, contends that value that Orica puts on Incitec's chemical assets is too low. Orica wants the fertiliser merger to go ahead even if the chemicals acquisition is stalled.
Publication Date: 15 October 2002
ORICA LIMITED - ASX ORI:
INCITEC LIMITED - ASX ICT:...
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