ChemChina-Syngenta Deal Delayed

Dan Industry News Release

ChemChina Syngenta
ChemChina and Syngenta were issued an extension by European Union antitrust regulators to comply with the regulator’s request. The EU has extended the deadline for a decision on ChemChina’s proposed buy of Swiss group Syngenta by ten working days to April 12th, according to Reuters. Syngenta said in a statement the two companies had asked for the extension to allow “sufficient time for the discussion of remedy proposals”. The European Commission opened the investigation into state-owned ChemChina’s $43 billion bid in October, saying the companies had not alleviated concerns over the deal. Syngenta said in a statement the two companies remain “fully committed” to the transaction and are “confident of its closure.”

From the National Association of Farm Broadcasting news service.