(Reuters) - Platform Specialty Products Corp (PAH.N) is in advanced talks to sell its agrochemicals business to London-based Wilmcote Holdings Plc (WCH.L) for about $3 billion, the Wall Street Journal reported on Wednesday.
If the deal proceeds, the WSJ said, it would offer Platform a way to achieve its goal of splitting its two divisions into separate companies, each with a defined focus and improved balance sheet, as it aims to boost an underperforming stock.
Assuming a deal is reached, the transaction could be announced this month, the newspaper said, citing sources.
Platform and Wilmcote were not immediately available for comment.
A deal with Wilmcote would be worth about $4 billion, including debt, according to the WSJ.
Reporting by Shalini Nagarajan in Bengaluru; Editing by Mark Potter