ChemChina nears deal to buy Syngenta..outmaneuvers Monsanto

chem-china

http://www.wsj.com/articles/chemchina-nears-deal-to-buy-controlling-stake-in-syngenta-1454416378

China National Chemical Corp. is nearing an agreement to buy Swiss pesticide and seed giant Syngenta AG for roughly $43 billion, according to people familiar with the matter—a move that would mark one of China’s most ambitious attempts at an overseas acquisition.

Big obstacles remain to completing a deal. People familiar with the matter said an agreement between the two companies could be announced as soon as Wednesday, but also cautioned that talks could still fall apart. If an agreement is reached, it would be just the start of what promises to be a fraught process gaining government and regulatory approval around the world, including in the U.S., the home of a sizable portion of Syngenta’s seed and crop-spray business.

Another suitor also could emerge. The global agricultural and chemicals industries have been reshaped in recent months by deal making, initiated by U.S. seed giant Monsanto Co.’s unsuccessful $46 billion takeover of Syngenta itself, as slumping commodity prices have pressured farmers’ spending.

Terms of the deal with China National Chemical, known as ChemChina, call for a price of about 470 Swiss francs, or $461, a share in cash, according to people familiar with the matter. Bankers and investors have said it would be difficult for Monsanto, or any other suitor, to match such an all-cash offer.

If consummated, the transaction would represent the largest foreign acquisition by a Chinese company by far. That honor is now held by Cnooc Ltd.’s 2013 purchase of Canada’s Nexen, an oil producer, for $18.2 billion.

Shares in Syngenta rose sharply after The Wall Street Journal reported the talks earlier Tuesday. The stock closed up 3.7% at 392.30 francs in Zurich.

Syngenta is due to report 2015 full-year financial results on Wednesday.

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now this is big..

“China National Chemical Corp. is nearing an agreement to buy Swiss pesticide and seed giant Syngenta AG for roughly $43 billion”

the other half of the deadly monsanto/syngenta gmo behemoth..and monsanto wanted to make that a unity of one..

“The global agricultural and chemicals industries have been reshaped in recent months by deal making, initiated by U.S. seed giant Monsanto Co.’s unsuccessful $46 billion takeover of Syngenta itself”

they got owned by the chinese..

“If consummated, the transaction would represent the largest foreign acquisition by a Chinese company by far.”

uh huh..

401

~ by seeker401 on February 5, 2016.

One Response to “ChemChina nears deal to buy Syngenta..outmaneuvers Monsanto”

  1. More toxic sprays and GMOs on the way

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