FMC Corp.'s (FMC) Split News is a Slight Negative for Chemtura (CHMT), Citi Analyts Say

Credit analysts at Citi said FMC Corp.'s (NYSE: FMC) decision to split the company is slightly negative for Chemtura (NASDAQ: CHMT).

Analyst Finnerty said, "On the call, FMC management stated they were not involved in the bidding process for AgroSolutions and that while it was a good business, it was not what they were looking for. We view this as a slight negative for CHMT given a company as well capitalized as FMC theoretically would have the ability to pay a high multiple for the assets. CHMT has stated they intend to announce their decision on the possible sale of AgroSolutions in 1H14. Note that FMC is one of the largest players in the global lithium market."

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