For any other inquiries, please contact: Ren KanPhone +86 138 1097 7565 [email protected] But Dow Chemical and DuPont agreed on a merger in December, further consolidating the pesticide industry and limiting Syngenta‘s merger opportunities. After the deal, analysts said Monsanto or ChemChina were Syngenta‘s most likely partners. The approval of the regulatory authority, the Committee on Foreign Investment in the United States, eliminated one of the main potential challenges of the agreement, given that the intergovernmental body had previously proven to be an obstacle to cross-border agreements with Chinese companies. The China National Chemical Corporation (“ChemChina”) and swiss agricultural company Syngenta AG have agreed to divest three types of pesticides in order to settle the Federal Trade Commission‘s claims that their proposed merger would affect competition in several US markets. ChemChina, headquartered in Beijing, China, has production, R&D and marketing bases in 150 countries and regions. It is the largest chemical group in China and ranks 265th among the Fortune 500. The company‘s core businesses include materials science, life science, high-end manufacturing and basic chemicals. Previously, ChemChina successfully acquired 9 leading industrial companies in France, UK, Israel, Italy and Germany, etc. For more information, see: www.chemchina.com, www.chemchina.com/press/. The Commission voted in favour of the complaint and accepted the proposal to approve the public notice by a 2–0 vote. The FTC will publish the agreement package shortly in the federal registry. The agreement will be subject to public comment for 30 days, starting today until May 4, 2017, after which the Commission will decide whether the proposed approval is final.
Comments may be submitted electronically or on paper by following the instructions in the “Additional Information” section of the Federal Register notice. Syngenta is one of the world leaders with 28,000 people in more than 90 countries who are committed to our goal: to bring plant potential to life. Through world-class science, global reach and customer engagement, Syngenta helps increase plant productivity, protect the environment, and improve health and quality of life. For more information, see www.syngenta.com. Further details on the approval agreement — which contains an asset maintenance order and allows the Commission to appoint a monitor — are presented in the analysis to support public opinion on this matter. ChemChina and Syngenta have entered into the buyout agreement wherein the Board of Directors of Syngenta AG (“Syngenta” or “the Company”) unanimously recommends ChemChina‘s offer to purchase 100% of Syngenta‘s equity. The offer price is $465 per share in cash. In addition, the offer allows for the payment of a special dividend of CHF 5, payable immediately prior to closing, subject to the agreement of Syngenta‘s shareholders.
The proposed offer valued Syngenta‘s total outstanding shares at $43 billion. The acquisition is subject to the condition that the examination and authorisation procedures are subject to examination and authorisation procedures from the countries concerned. Other deals in this area are a proposed $130 billion merger between Dow Chemical and DuPont and Bayer‘s plan to merge with Monsanto. On the fertilizer front, Potash Corp announced plans to merge with Agrium Inc AGU. YEAR. Headquartered in Basel, Switzerland, Syngenta is one of the world‘s largest producers of agrochemicals, including insecticides, fungicides, herbicides and seeds. It was created in November 2000 by the merger of the agricultural companies Novartis and AstraZeneca. .