Source: Makhteshim Agan Group
The Makhteshim Agan Group announced the termination of negotiations with Albaugh Inc., a privately held, manufacturer of off-patent crop protection products operating in the Americas. This announcement follows MAI's earlier announcement on June 27, 2010, that it had signed a Letter of Intent ("LOI") providing for the acquisition of Albaugh by MAI.
The termination of negotiations follows various findings revealed by MAI in the course of the due diligence process, which constituted a material deviation from the data based on which the company decided to enter the LOI.
Original news release