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takyon [soylentnews.org] writes:

In recent years, Monsanto has tried to purchase the Swiss agricultural chemical giant Syngenta AG [wikipedia.org]. Less than 6 months ago, Syngenta rejected a $47 billion takeover offer [reuters.com] (with a $3 billion reverse break-up fee) from Monsanto.

Now Syngenta has agreed to a $43 billion cash buyout [marketwatch.com] by the Chinese government-owned China National Chemical Corporation [wikipedia.org] (ChemChina). The deal would be the largest foreign acquisition ever by a Chinese company:

The offer comes after months of uncertainty over the future of Syngenta, which was earlier pursued by U.S. seed giant Monsanto Co. To seal the deal, the companies must now overcome potentially fraught regulatory hurdles in the U.S. and elsewhere.

If completed, the purchase would mark a fresh high for Chinese overseas acquisitions. Chinese companies — with the strong support of their government — have sought to gain technology and know-how from abroad, while also opening up new markets to drive sales overseas as demand at home slows.

For Syngenta, the deal holds the prospect of new capital and greater access to the huge China market, while for ChemChina, it gives the company access to Syngenta's advanced biotechnology for developing seeds.

Previously: Dow and DuPont Plan Merger to Create $130 Billion Temporary Chemical Giant [soylentnews.org]

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