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ChemChina Syngenta Moving Forward With Merger

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ChemChina Secures Shareholder Approval of Syngenta Takeover

State-owned ChemChina has secured its takeover of Syngenta after more than 80 percent of Syngenta shareholders approved the acquisition. The Financial Times reports 80.7 percent of shares had been tendered by the end of the offer period on Thursday evening, above the 67 percent minimum required for the deal to go ahead.

The $43 billion deal, announced more than a year ago, cleared the final two main hurdles earlier this month when it won U.S. and European Union regulatory approval. The agreed offer is for $465 per share. The transaction is set to close May 18th after the start of an additional acceptance period for shareholders and payment of special dividends to holders of Swiss-listed shares.

ChemChina has said it will keep Syngenta’s headquarters in Switzerland.

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Source:  NAFB News

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