Ackman’s Platform Specialty In $3.5B Deal With Arysta LifeScience

Platform Specialty Products Corp (NYSE:PAH), a Miami-based chemical company, has agreed to acquire Arysta LifeScience, an Ireland-based agriculture chemical maker at $3.5 billion, including debt. Permira, Arysta’s private equity owner, earlier contemplated a U.S. IPO, although the firm progressed with the sale as Platform Specialty’s interest grew.

Ackman’s stake in Platform Specialty

Pershing Square Capital Management, the activist hedge fund headed by Bill Ackman, initiated its position in Platform Specialty Products Corp. after the chemical company started trading on the New York Stock Exchange in January. Dan Leever, the chemical company’s CEO, exuded confidence that the NYSE listing...