UPL surges 15% after Arysta deal; analysts see more upside for the stock

The stock surged 15% to Rs 631 after the company announced the acquisition of Arysta LifeScience - the agrochemical business of US-based Platform Chemicals - for a consideration of US $ 4.2 billion.

UPL has surged 15% to Rs 631 on the BSE on heavy volumes in noon deals, after the company announced the acquisition of Arysta LifeScience – the agrochemical business of US-based Platform Chemicals – for a consideration of $4.2 billion.

UPL, on Friday, said that its wholly-owned subsidiary, UPL Corporation, has signed a definitive agreement with Platform Specialty Products Corporation to acquire Arysta LifeScience Inc. and its subsidiaries for a cash consideration of about $4.2 billion.

A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and TPG have partnered with UPL Corp to support the proposed acquisition.