CRUNCH talks between agricultural chemicals supplier Nufarm and its Chinese suitor, Sinochem, appear set to go down to the wire this week as the two companies and their advisers haggle over a suitable takeover price.
In what could prove to be the last big takeover of 2009, Nufarm and Sinochem have until close of business on Wednesday to reach a binding agreement after failing to meet the original December 3 deadline.
There have been suggestions an announcement could come as soon as today. But sources told The Australian Financial Review at the weekend that price was still a sticking point.
Nufarm chairman Kerry Hoggard and chief executive Doug Rathbone, who is also the company's largest shareholder, previously said they won't accept less than $13 a share, or $2.8 billion.
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