MBII - Bioceres Crop Solutions to acquire Marrone Bio Innovations in all-stock deal

Bioceres Crop Solutions (NASDAQ:BIOX) will acquire Marrone Bio Innovations (NASDAQ:MBII) in an all-stock transaction. Each MBII share will be exchanged at closing for BIOX shares at a fixed ratio of 0.088, representing a value of ~$236M. MBII stock surged 25% postmarket while BIOX stock fell 5%. This deal will combine BIOX's expertise in bionutrition and seed care products with MBII's leadership in the development of biological crop protection and plant health solutions. MBII CEO Kevin Helash said the deal is expected to generate $8M in annual cost synergies. In connection with the deal, BIOX agreed to a capital commitment with a principal amount between $37.5M and $45M in the form of a convertible loan. The loan will mature 4 years after closing and accrue interest at an annual rate of 9%, of which 5% will be payable in cash and 4% in-kind. At any time up to maturity, lenders will

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Bioceres Crop Solutions to acquire Marrone Bio Innovations in all-stock deal