ChemChina Extends $43 Billion Takeover Of Syngenta (SYT)
Author By Sophia VidaPosted on The take over of Syngenta by China National Chemical Corp. would be the biggest overseas acquisition by a Chinese firm, ever.
The company, also known as ChemChina, just announced this week that it would be extending its $43 billion agreed takeover of Swiss company Syngenta until September 13th.
The offer for shares of Syngenta, a pesticide and seed giant, was announced in February. The deal had been extended in May and was due to expire on July 18.
Monsanto had tried acquiring Syngenta three times last year and failed.
“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.
“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.
Disclaimer: We have no position in Syngenta AG (NYSE: SYT) and have not been compensated for this article.
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