Syngenta Shares Drop with Merger Doubts

October 25, 2016 12:55 PM

Swiss-based Syngenta is seeing shares drop more than 9 percent following a European Union commission raised doubts about its planned merger with ChemChina.

Back in February, the pair agreed to a $43 billion cash takeover in February.

A week ago, leaders met with the EU antitrust authority a week ago.

According to a spokesperson, the companies did not offer any concessions, meaning the commission can clear the deal unconditionally or open a full investigation that could take up to five months.

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