ChemChina rolls over $43 bn Syngenta offer by Staff Writers Zurich (AFP) Sept 6, 2016 State-owned China National Chemical Corp. said Tuesday it was extending its $43 billion agreed takeover for Swiss pesticide and seed giant Syngenta until November. The company, also known as ChemChina, said the offer for all Syngenta's shares in what would be by far the biggest-ever overseas acquisition by a Chinese firm was now open until at least November 8. "As previously stated, extensions to the tender offers are expected to occur until all conditions to the offers are satisfied, including obtaining all applicable regulatory approvals," ChemChina said in a statement. The offer for Syngenta shares, announced in February, was extended in May and July, and was due to expire on September 13. "All of the other terms and conditions of the tender offers remain unchanged and ChemChina continues to expect to conclude the transaction by the end of the year," said ChemChina. Last month a US national security regulator approved the merger, and the companies said a number of anti-trust regulators around the world still need to approve the deal. Syngenta rebuffed US-rival Monsanto three times last year before accepting the ChemChina's offer. The proposed merger is not the only one in the sector, with German chemicals and pharmaceuticals giant Bayer on Monday sweetening its offer for Monsanto to $127.50 per share, which would bring bring the deal's total value to almost $66 billion including debt. Monsanto has yet to respond to the new offer. Dow Chemical and DuPont, two of the oldest US companies, announced the tie-up in December to create the world's biggest chemical and materials group valued at $130 billion.
Related Links Farming Today - Suppliers and Technology
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |