FMC Corporation (NYSE: FMC), a specialty company serving agricultural, industrial and consumer markets globally, engaged FTI Consulting to advise the company on a major change in strategic direction. This change involved the cancellation of a planned separation into two, independent publicly traded entities and instead the pursuit of a $1.8 billion acquisition of Cheminova, a Danish agricultural chemical company, and a $1.6 billion planned sale of FMC Corporation’s soda ash business.
Our Role With FMC
FTI Consulting worked closely with the company’s senior leadership team and investment banking advisors to prepare the strategy, messaging, and execution plan for the announcement of the acquisition and divestment. Once the announcement was made, multiple work streams engaged the media, investment community, employees, customers and partners, and local and national government officials. Because the announcement was a departure from the previously announced separation, explaining the change to employees was a particular focus. Additionally, FTI Consulting led the engagement of EU stakeholders in Brussels and, working with a Danish affiliate, government officials and journalists in Denmark. Following the announcement, a number of top executives travelled to Europe to meet Cheminova employees and management, while others engaged with the employees of the soda ash business.
FMC Corporation successfully navigated the change in strategy with all of its stakeholders through a robust engagement program. The Cheminova transaction closed on schedule, strengthening the company’s crop protection portfolio, and the soda ash business was successfully sold to Tronox (NYSE: TROX) for $1.64 billion.
FMC Corporation continues to be an FTI Consulting client.