Events After the Reporting Period

We closed the acquisition of Solvay’s global polyamide business on January 31, 2020. The E.U. Commission had approved the acquisition of the polyamide business, subject to certain conditions, on January 18, 2019. These conditions require the sale of parts of the original transaction scope to a third party, specifically Solvay’s production plants in the engineering plastics field in Europe. Domo Chemicals, Leuna, Germany, was approved by the E.U. Commission as the buyer. The acquired polyamide business will be integrated into the Performance Materials and Monomers divisions.

On February 14/15, 2020, a jury in a U.S. Federal District Court awarded $15 million in compensatory damages against defendants Monsanto Company and BASF Corporation after a trial related to alleged yield losses of a peach farmer in connection with the use of the dicamba herbicide. The jury also found that Monsanto was liable for $250 million in punitive damages. Finally, the jury found that the defendants were acting in a joint venture and conspiracy. Following the jury’s decision, the court is considering whether BASF Corporation is also liable for the punitive damages award against Monsanto because of the joint venture finding. BASF intends to use all legal remedies available and will appeal the decision as to compensatory damages and, if applicable, punitive damages.