Nufarm expects to post a loss of about $40 million in the first half of its fiscal year, managing director Doug Rathbone told a shareholders meeting in Melbourne on Tuesday.
Nufarm shareholders met to consider a resolution seeking their approval of the acquisition by Sumitomo chemical company of up to 20 per cent of the issued shares of Nufarm.
The Nufarm share price fell 55 cents, or 5.64 per cent, to $9.20 on Tuesday.
Mr Rathbone said a declining glyphosate price and tight margins across the globe, combined with sluggish demand for farm chemicals had contributed to the loss.
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