Corn Products International has received initial approval to close its $1.3-billion acquisition of National Starch Food Innovation. The deal is expected to be finalized by early October.
Corn Products International, Westchester, Ill., agreed to buy National Starch, a Bridgewater, N.J.-based wholly-owned subsidiary of Ako Nobel, a Dutch specialty chemicals and coatings company.
The acquisition would give Corn Products a new presence in Europe and Australia, as well as access to new technologies. It also will improve scale and capabilities in markets where it already has a presence.