American Vanguard Corp. (AVD)

[eFinanceMarkets]

American Vanguard +6.6% on deal to buy ChemChina crop protection assets
American Vanguard (AVD +6.6%) surges after agreeing to acquire U.S. assets related to the three crop protection product lines - Abamectin, Chlorothalonil and Paraquat - from ChemChina unit Adama Agricultural Solutions; terms are not disclosed.
The deal is part of ChemChina's agreement with the FTC that requires the company to divest the assets as a pre-condition for its proposed acquisition of Syngenta.
SunTrust analyst James Sheehan says the products will fit in well with AVD's existing portfolio and estimates the deal will raise EPS by $0.10-$0.15; he keeps a Buy rating and $18 price target on the shares.