March 1, 2017
Chemchina-Syngenta deadline extended
European Union anti-trust regulators have extended the deadline for a decision on the $43 billion takeover of Swiss seed and pesticide company Syngenta AG by the state-owned China National Chemical Corp (ChemChina), to April 12, 2017.
Already approved by United States securities regulators, the potential merger marks the latest development in the rapidly consolidating global chemicals industry. A recent report by Reuters media says a source close to the deal believes the two companies may need to sell off a number of minor assets in order to receive EU approval.