ChemChina agrees to buy Syngenta in record US$43b deal
Deal will transform the state-backed firm into the world's biggest supplier of pesticides and agrochemicals
Beijing
CHINA National Chemical Corp agreed to buy Swiss pesticide and seeds maker Syngenta AG for more than US$43 billion in cash as the state-backed company extends its shopping spree with what would be the biggest acquisition by a Chinese firm.
ChemChina, as the closely held company is known, offered US$465 a share in cash, according to a statement on Wednesday. The offer, endorsed by Syngenta's board, is about 20 per cent higher than the stock's last close.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Indian winemaker Sula Vineyards' Q4 profit slips on mounting expenses
Olam tops Louis Dreyfus’ offer for Australia’s Namoi Cotton as takeover battle heats up
Puma returns to sales growth in Americas despite ‘volatile’ market
Nanjing Xinjiekou Department Store announces May 23 EGM; Cordlife seeking legal advice
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
‘Limits’ to MOH intervention for Cordlife customer refunds, compensation: Janil