Platform Specialty Products Corp., the specialty chemicals company founded by Martin E. Franklin, agreed to acquire agricultural chemicals maker Arysta LifeScience Ltd. for about $3.51 billion.

Arysta is being sold by funds controlled by private-equity firm Permira Holdings Ltd., Miami, Florida-based Platform said. The deal is expected to close in the first quarter of 2015 and be funded with cash on hand, convertible equity and debt.

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