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2/3/2016, 8:00 AM (Source: TeleTrader)
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ChemChina to acquire Syngenta for $43 billion

China National Chemical Corporation (ChemChina) released a statement on Wednesday saying it had reached an agreement with Syngenta, Swiss agrochemical and seeds company, for the acquisition of 100% of Syngenta's equity for $43 billion.

ChemChina’s offer price is $465 per share in cash. Additionally, the offer includes a special dividend of 5 Swiss francs to be paid immediately before closing, subject to Syngenta shareholders’ approval.

The deal is yet to go through anti-trust reviews and secure approvals from relevant countries, the statement notes.

ChemChina intends to keep Syngenta’s operations, management and employees intact. The deal could help ChemChina establish itself as the largest supplier of agrochemicals and pesticides in the world.

Baha Breaking News (BBN) / IT