The U.S. Committee on Foreign Investment in the United States has given its approval to the ChemChina takeover of Syngenta. The decision removes significant uncertainty over the takeover of the world’s largest pesticides maker after the two companies agreed to a deal in February. However, Syngenta did not disclose whether it had made concessions to secure approval. If completed, the $43 billion takeover would be the largest foreign acquisition ever by a Chinese company. Syngenta reiterated the company expects to finalize the deal by the end of the year.
Syngenta says closing the transaction is still subject to “anti-trust review by numerous regulators around the world and other customary closing conditions.”
Source: NAFB News Service