ChemChina further extended takeover offer to Syngenta

The absence of regulatory approvals has forced the Chinese chemical company ChemChina to extend its takeover offer to the Swiss seed and crop protection company Syngenta once more.

According to the German agricultural online service Topagrar.com ChemChina made the fist  takeover bid for Syngenta in February 2016. Now  the fifth expiry of the time limit, which lasted until March 2, 2017, was the intention of the buyer. The extension would be repeated until all conditions of purchase were met - including all regulatory approvals. The offer in February went with a purchase price of $ 43 billion (€ 41.3 billion).

As reported earlier an opposition to the takeover is building in the USA. A Senator from Iowa submitted a bill in July with the aim of preventing the takeover of Syngenta by the Chinese state-owned firm ChemChina.