That suggests there may well have been some give in relation to Sinochem's initial approach, and possibly some more clarity around what sort of price Nufarm's board and chief Doug Rathbone, a 14 per cent shareholder, might be willing to recommend.

Working backwards, a figure about the $12-a-share mark would be a fairly interesting place to start.

The day before the Street Talk column suggested Sinochem was circling Nufarm, the company's stock closed at $8.92.

Later, the company received a speeding ticket from the Australian Stock Exchange and the stock jumped to $11.12, at the same time the company indicated its net profit after tax may be up to 15 per cent below the previous guidance.