According to multiple media reports, China National Chemical Corp.—better known as ChemChina—is close to finalizing an agreement to buy Syngenta AG for $43 billion.
However, the Wall Street Journal reports that final talks are still ongoing and could still fall apart or be delayed.
The deal would reportedly make ChemChina the world’s biggest supplier of agricultural chemicals. Bloomberg Business says the deal would also underscore the importance China attaches to owning seed and crop care technology that can increase agricultural output and help feed a growing population in the world’s most populous country.
Last year Syngenta rejected an offer of $46 billion in cash and stock from Monsanto, $3 billion more than the reported ChemChina offer.
Source: www.brownfieldagnews.com