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The Committee on Foreign Investment in the United States, a U.S. government committee which assesses the potential effect of foreign investment on that country's security, has given its approval for the proposed purchase of the Swiss seed and chemical manufacturer Syngenta by China National Chemical Corp., also known as ChemChina.
Coverage:
Previously:
ChemChina to Purchase Syngenta For $43 Billion in China's Largest Foreign Acquisition
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ChemChina-Syngenta Merger Cleared by Regulator, but Still Under DoJ Scrutiny
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Either I'm dead or my watch has stopped.
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(Score: 2) by butthurt on Thursday August 25 2016, @11:18PM
I don't understand it either. However, I see that Syngenta does business in the U.S. or has a U.S. subsidiary:
http://www.syngenta-us.com/home.aspx [syngenta-us.com]
Article I of the U.S. constitution says
The Congress shall have power [...] To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; [...]
which, in practice at least, applies to agribusiness (see Wickard v. Filburn).
Ceasing to do business in the U.S. would be an unpalatable option, because it's a huge market for agrichemicals and such.
As noted in one of the articles, the proposed merger is also subject to approval in other countries. The U.S. has a lot of clout in this matter though.