ChemChina, Syngenta Deal One Step Closer to Approval

February 7, 2017 12:49 PM

One of the biggest announced mergers in the global ag sector is taking a big step towards completion.

According to Reuters, ChemChina is close to receiving approval for its purchase of Syngenta from the European Union.

ChemChina made a $43 billion offer for the Switzerland-based seed and chemical company. If the merger is approved, Syngenta would be the largest foreign acquisition by a Chinese company.

Reuters also reports ChemChina has agreed to some concessions to alleviate concerns of the European Commission.

The commission is expected to make a formal announcement in March. 

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