Linklaters advises Bioceres Crop Solutions in merger with Marrone Bio Innovations

Linklaters has advised Bioceres Crop Solutions Corp. (BIOX), a fully integrated provider of crop productivity solutions, in connection with its merger with Marrone Bio Innovations, Inc. (MBI), a NASDAQ-listed agricultural company.

As part of the all-stock transaction, MBI will become a direct, wholly-owned subsidiary of BIOX and each share of MBI’s common stock will be exchanged for ordinary shares of Bioceres at a fixed ratio of 0.088. The transaction is valued at approximately $236 million based on the Bioceres and MBI share prices at market close on March 15, 2022.

The transaction is expected to close in the third quarter of 2022, subject to the approval of MBI shareholders, regulatory clearance and other customary closing conditions. The deal will combine Bioceres’ expertise in bionutrition and seed care products with MBI’s leadership in the development of biological crop protection and plant health solutions, creating a global leader in the development and commercialization of sustainable agricultural solutions.

The deal team was led by partner Matthew Poulter and senior associate  Pierre-Emmanuel Perais with assistance from associates Lizzeth Merchan, Thomas Lemouche, Lu Meng, Deling Chen, and legal intern Paula Sobral. The team also included counsel Sean McKeever and associate Reuven Rosen (Tax); senior counsel Jonathan Gafni, counsel John Eichlin, and associate Anna Gooding (Antitrust); and partner Brenda DiLuigi and senior associate Sean Solomon (Dispute Resolution).

This marks the first public M&A transaction for BIOX following it going public through a de-SPAC transaction in 2019. Since 2019, Linklaters has advised BIOX on a range of cross-border corporate, finance and capital markets transactions.