Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

20. Subsequent Events

Share repurchase

The Company purchased approximately 2.9 million shares of Common Stock for $142.9 under the 2016 Share Repurchase Program after March 31, 2017.

Agro BioSciences, Inc. Acquisition

On May 1, 2017, the Company acquired Agro BioSciences, Inc. (“the Agro BioSciences Acquisition”), an innovator and leader in developing custom probiotic products for poultry, cattle and swine.  The total purchase price was approximately $75.0, which is subject to a working capital adjustment, and includes a payment of up to $25.0 after 3 years if certain operating performance is achieved.  Agro Biosciences annual sales were approximately $11.0 in 2016.  The acquisition was funded with short-term borrowings and will be managed in the Specialty Products Division.