are we still expecting the jorc this week?, page-16

Also in today's news, looks like the Chinese are happy to pay up for agricultural chemicals:




3. ChemChina Buys Control of Israeli Agricultural-Chemicals Maker Makhteshim

China National Chemical Corp. offered to buy a controlling stake in Makhteshim-Agan Industries Ltd., the largest maker of generic agricultural chemicals, in a deal valuing the Israeli company at $2.4 billion. ChemChina, as the Beijing-based company is known, agreed to acquire 7 percent of Makhteshim from Koor Industries Ltd. and offered to buy all the publicly traded stock to bring its stake to 60 percent, Makhteshim said today. The purchase price, based on current dollar exchange rates and taking into account some employee options, is 19.98 shekels a share, or 18 percent more than the stock?s closing price in Tel Aviv yesterday. Makhteshim, based in Airport City outside Tel Aviv, jumped as much as 9.7 percent. Surging demand for raw materials in China to power the world?s fastest-growing major economy has prompted companies to make acquisitions beyond oil and gas industries and explore takeovers of agriculture and chemical assets. State-owned Sinochem Group, China?s largest fertilizer trader, earlier this year considered a rival bid to BHP Billiton Ltd.?s $40 billion offer for Potash Corp., people with knowledge of the matter said in October. "It looks like the deal is about to close and we believe this offer will be received by the shareholders because the Chinese are paying such a high premium," Guil Bashan, an analyst at IBI in Tel Aviv, said by telephone. "This is good news for Makhteshim and for Koor."