UPL to merge with at least two American firms

UPL Ltd is exploring a merger with at least two American firms—CF Industries Holdings Inc. and FMC Corp.—as part of the saraf family’s plan to ensure a fair distribution of businesses and assets among its members.

Mumbai-based home grown company UPL, valued at around ₹55,000 crore, is one of the largest agrochemicals companies in the world. The company produces industrial chemicals, chemical intermediates and speciality chemicals and offers crop protection solutions.

UPL Limited is a global generic crop protection chemicals and seeds company. The company is engaged in the business of agrochemicals industrial chemicals and chemical intermediates. They operate in three segments: agro chemical industrial chemicals and others. The agro chemicals segment consists of agrochemicals technicals and formulations.

The company offers a range of products that includes insecticides fungicides herbicides fumigants plant growth and regulators and rodenticides. They have 23 manufacturing sites which includes nine in India four in France and two in Spain.

They operate in every continent and have a customer base in 123 countries with their own subsidiary offices in Argentina Australia Bangladesh Brazil China Canada Denmark France Germany Hong Kong Indonesia Japan Korea Mauritius Mexico New Zealand Russia Italy Turkey Spain South Africa Taiwan USA UK Vietnam Zambia Shanghai Columbia and Netherland.

As per the source, the merger at this stage is likely to fetch at least a 15% premium to UPL’s current worth, which translates to around $8.9 billion or ₹63,000 crore—the largest deal in the agrochemicals space in Asia, if formalized.