FRANKFURT, April 27 German chemicals giant BASF
said it would continue to push for acquisitions to
shore up its crop protection business, after the
antitrust-related sale of assets from the merger of Dow Chemical
and DuPont left it empty-handed.
"We are generally interested in strengthening our business
further, acquisitions are part of that, that is very much part
of our thinking. But it takes two to tango," Chief Executive
Officer Kurt Bock told journalists on a call after the release
of quarterly results on Thursday.
He added deals were even more difficult when a third party
in the form of an antitrust regulator posed additional hurdles.
With rivals including Monsanto and Bayer joining forces all
around, BASF has been eyeing a surprise foray into generic
pesticides and cast an eye on U.S. pesticides peer FMC Corp
, sources told Reuters on March 22.
FMC in late March snatched up crop protection businesses put
up for sale by DuPont to win European Union approval for its
merger with Dow Chemical. These assets had been regarded by
analysts as a good fit for BASF.
(Reporting by Ludwig Burger; Editing by Maria Sheahan)