ChemChina extends offer for Syngenta to March

21.12.2016

ChemChina said on Dec. 20 that it has extended its $43 billion offer for Syngenta to March 2, 2017. The company said extensions to the offer were expected to occur until all conditions are satisfied, including regulatory approvals.

The purchase is undergoing regulatory review in various countries. It would combine Syngenta of Switzerland, one of the main global seeds and crop protection companies, and ChemChina of China, which controls Adama, the largest supplier of generic crop protection products in Europe.

The deal was first announced in February and initially was expected to close by the end of the year. It has faced some hurdles in the various countries that must give approval. U.S. leaders have expressed concerns regarding the use of U.S. sovereign immunity and the E.U. started an investigation in October amid competition misgivings.

ChemChina said all the terms and conditions of the tender offers remain unchanged. It is aiming to obtain the remaining outstanding approvals in the first quarter of 2017.



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