WHILE the Nufarm board moves ahead to hammer out terms about possible distribution agreements with its new partner, Japan's Sumitomo Chemical Co, one thing Nufarm investors may want to think about is the price of $14 a share for its 20 per cent stake.
That means, to come out ahead compared to Sinochem's $12-a-share proposal, other shareholders would need to sell their remaining 80 per cent for more than $11.50 a share, according to The Australian Financial Review.
Given the rights issue and likely poor 2010 results as the glyphosate market recovers, it is probable the shares will not trade above $11.50 for some time.
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