Shares of FMC Corp. soared 11% toward a near 3-year high in premarket trade Friday, after the agricultural company announced a deal to buy a part of DuPont & Co.'s crop protection business. The stock is on track to open at the highest level since July 2014, and on pace to post the biggest one-day percentage gain since November 2008. FMC said the deal with DuPont, which includes FMC paying $1.2 billion and swapping its health and nutrition business, will make it the fifth-largest crop protection company in the world. FMC's stock has rallied 8.7% year to date through Thursday and 52% over the past 12 months, while the S&P 500 has gained 15% over the past year.
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