FMC Corporation Announces Acquisition of Significant Portion of DuPont's Crop Protection Business; Simultaneous Sale of Health and Nutrition to DuPont

- FMC will acquire the portion of DuPont's Crop Protection business required to be divested by a European Commission ruling related to DuPont's merger with The Dow Chemical Company.   

- DuPont will acquire FMC Health and Nutrition.

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

- These transactions will be immediately accretive to FMC's adjusted earnings per share, upon closing.(1)

PHILADELPHIA, March 31, 2017 /PRNewswire/ -- FMC Corporation (NYSE: FMC) and DuPont (NYSE: DD) today announced the signing of a definitive agreement for FMC to acquire the portion of DuPont's Crop Protection business it must divest to comply with the European Commission ruling related to its merger with The Dow Chemical Company.  Additionally, DuPont will acquire FMC Health and Nutrition and receive $1.2 billion in cash.  FMC will acquire DuPont's global chewing pest insecticide portfolio, its global cereal broadleaf herbicides, and a substantial portion of DuPont's global crop protection R&D capabilities.  In 2017, FMC expects this acquired business will generate approximately $1.5 billion in revenue and $475 million of EBITDA.²

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After closing of the acquisition, FMC Agricultural Solutions will become the fifth largest crop protection chemical company in the world by revenue, with estimated annual revenue of approximately $3.8 billion. 

"This is a significant step forward for FMC, and for our Agricultural Solutions business in particular," said Pierre Brondeau, FMC president, CEO and chairman.  "The combination of market-leading products from DuPont's crop protection portfolio and its world-class R&D capabilities will transform our Agricultural Solutions business into a tier-one ag technology company.

"The crop protection industry is undergoing significant change, as evidenced by the consolidation currently underway.  To continue to meet the demands of our customers, FMC needs to provide more options to growers looking for innovative solutions that protect crops and increase yields.  By combining these high-value products and R&D capabilities with our own product portfolio, pipeline and formulation expertise, FMC will be able to serve our customers better and accelerate the pace at which we bring new solutions to the market," said Brondeau.  "The concurrent sale of our Health and Nutrition business will allow us to maintain our strong balance sheet and ensure we can continue to invest in growing both our Agricultural Solutions and Lithium segments."