News watch in brief

11 April 2005 00:01  [Source: ICB Americas]

ChevronTexaco buys Unocal

ChevronTexaco Corp. is acquiring Unocal Corp. in a stock and cash transaction valued at roughly $18 billion, including net debt. The acquisition, subject to approval by Unocal shareholders and regulatory agencies, will strengthen ChevronTexaco’s holdings in oil and natural gas. Unocal’s 1.75 billion barrels of oil-equivalent proved reserves would increase ChevronTexaco’s reserve base, as of the end of 2004, by about 15 percent.

Monsanto acquires cotton business

Monsanto Company has completed its acquisition of Emergent Genetics’ cotton business. Emergent will be integrated into Monsanto’s existing commercial operations and will enable them to return to the branded seed business in cotton. Through its Stoneville Pedigreed and NexGen brands, Emergent Genetics Inc. is the third-largest cotton seed manufacturer in the US, with roughly 12 percent of the market.

Kemira buys Verdugt

Kemira has completed the acquisition of Verdugt BV for roughly €145 million ($186.5 million). The move increases Kemira’s sales of organic acids and derivatives threefold to more than €170 million. Verdugt produces derivatives of formic, propionic, acetic and lactic acids.

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