ChemChina to acquire Syngenta for $43B, as the Swiss find a deal that makes them say “cheese!”

February 3, 2016 |

In China, ChemChina announced a $43 billion bid for Syngenta, the companies announced. Syngenta’s US shares rose to $76.47 on the news, which came as Syngenta said that ChemChina was looking for even more acquisitions.

The Syngenta board is backing the deal, which is expected to clear regulatory hurdles and close before the end of 2016. Traders were valuing the company at $36.09 billion in overnight trading, well below the transaction price — suggesting that fears of regulatory mishap were present in the market.

ChemChina, also known as China National Chemical Company, acquired Canada’s Nexen energy concern in a $17 billion transaction recently, and last month acquired KraussMaffei for $1.01 billion. The company competes in New Chemical Materials and Specialty Chemical Products, Basic Chemicals, Oil Processing & Refining Products, Agrochemicals, Rubber Products and Chemical Equipment.

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