FMC CORPORATION (NYSE:FMC) Files An 8-K Completion of Acquisition or Disposition of Assets
ITEM 2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
In March 2017, FMC Corporation (“FMC” or “we”) announced its intention to separate the FMC Lithium segment (subsequently renamed Livent Corporation, or “Livent”) into a publicly traded company. The initial step of the separation, the initial public offering (“IPO”) of Livent, closed on October15, 2018. In connection with the IPO, Livent had granted the underwriters an option to purchase additional shares of common stock to cover over-allotments at the IPO price, less the underwriting discount. On November 8, 2018, the underwriters exercised in full their option to purchase additional shares. After completion of the IPO and the underwriters’ exercise to purchase additional shares of common stock, FMC owned 123 million shares of Livent’s common stock, representing approximately 84 percent of the total outstanding shares of Livent’s common stock. On March 1, 2019, we completed the previously announced distribution of 123 million shares of common stock of Livent as a pro rata dividend on shares of FMC common stock outstanding at the close of business on the record date of February 25, 2019. In March 2019, as a result of the completed separation of Livent from FMC, our FMC Lithium segment was classified as a discontinued operation.
Attached as Exhibit 99.1 to this Current Report on Form 8-K, and incorporated herein by this reference, is a copy of FMC’s press release dated March 1, 2019, announcing the completion of the separation.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(b) Pro Forma Financial Information.
Attached as Exhibit 99.2 to this Current Report on Form 8-K is certain unaudited pro forma condensed consolidated financial information of FMC. The unaudited pro forma condensed consolidated financial information of FMC was derived from FMC’s historical consolidated financial statements and is presented to give effect to the disposition of FMC Lithium.
(d) Exhibits.
Exhibit
NumberDescription
FMC CORP Exhibit
EX-99.1 2 fmcex991liventclose.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 FMC Corporation 2929 Walnut Street Philadelphia,…
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About FMC CORPORATION (NYSE:FMC)
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides. Its FMC Health and Nutrition segment focuses on nutritional ingredients, health excipients and functional health ingredients. FMC Health and Nutrition is a supplier of microcrystalline cellulose, carrageenan, alginates, natural colorants, pectin and omega-3, which has applications in the production of food, pharmaceutical, nutraceutical and other specialty consumer products. Its FMC Lithium segment manufactures lithium for use in a range of lithium products, which are used in energy storage, specialty polymers and chemical synthesis application.
