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Albaugh to acquire Rotam

December 21, 2021 -  By

Albaugh has entered into an agreement under which the company will acquire all outstanding shares in Rotam through a merger between the holding company of Rotam and an entity in the Albaugh group of companies.

The parties have agreed on an all-cash transaction with consideration of $26.23 New Taiwan Dollar per share for all issued and outstanding shares in Rotam corresponding to a total consideration of approximately $197.5 million USD net of cash and debt at current exchange rates, representing a 73 percent premium over the average closing price of Rotam over the past 12 months.

The combination of the businesses will create a leading global crop protection company with total sales exceeding $2 billion and multiple areas:

  • A very broad product portfolio, coupled with a pipeline of new products and technologies;
  • Sales operations in all regions of the world;
  • A strong manufacturing base throughout North and South America, Europe, India and China;
  • Robust competencies and resources in registration, research and product development; and
  • And an outstanding team of highly professional and dedicated people.

“We have long admired Rotam, their strong portfolio, competencies and people, and we look forward to welcoming them into the Albaugh family, bringing new strengths to our company and offering unique value to our customers worldwide, partners, people and society at large,” said Dennis Albaugh, founder and chairman of Albaugh.

The transaction has been unanimously approved by the boards of Albaugh and Rotam and is subject to the approval of Rotam’s general shareholder’s meeting which is scheduled for Feb. 8, 2022. The merger is expected to close thereafter subject to customary procedures and regulatory approvals. The transaction will be financed through cash on hand, existing credit facilities provided by a syndicate of banks, and incremental debt financing led by HSBC.

J.P. Morgan is serving as lead financial adviser to Albaugh, who is also being advised by HSBC. Jones Day and Collas Crill are serving as legal advisors to Albaugh. Deloitte Corporate Finance is serving as financial advisor to Rotam, Dentons is serving as legal advisor to Rotam.

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