ChemChina-Syngenta Deal Delayed

ChemChina and Syngenta were issued an extension by European Union antitrust regulators to comply with the regulator's request. The EU has extended the deadline for a decision on ChemChina's proposed buy of Swiss group Syngenta by ten working days to April 12th, according to Reuters. Syngenta said in a statement the two companies had asked for the extension to allow "sufficient time for the discussion of remedy proposals".

The European Commission opened the investigation into state-owned ChemChina's $43 billion bid in October, saying the companies had not alleviated concerns over the deal. Syngenta said in a statement the two companies remain “fully committed” to the transaction and are “confident of its closure.”

Source;  NAFB News