PESTICIDES maker Nufarm may finally realise synergies of $14.8 million it had first targeted when it bought the British herbicide maker AH Marks, after the UK competition commission lifted restrictions on integrating the business.
Nufarm said yesterday it had fulfilled its obligations and undertakings to the competition regulator and could now proceed with a full integration of the business it had bought for £74.6 million ($150 million) last year, according to a report in The Australian Financial Review.
The UK regulator had initially imposed conditions on the deal because it feared there would be inadequate competition in the supply of two types of herbicide.
Nufarm said in February it would spend about $1 million to meet undertakings that included helping competitors enter the restricted market.
* See also: 'Nufarm acquires two US sorghum seed companies'.
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