Israel-based Makhteshim-Agan Industries, a major producer of generic crop chemicals, has reached a deal to acquire U.S.-based Albaugh, a private crop-protection supplier, for roughly $1 billion in a combination of cash, notes and stock. The Israeli firm made the move to strengthen its profits after the global recession led to lower insecticide prices. "This is a transformational acquisition for Makhteshim," as it gives the company "the opportunity to participate in fast-growing markets," said Makhteshim CEO Erez Vigodman.

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