Reports: ChemChina proposes two-stage Syngenta takeover

摘要

In the latest twist in a long-running saga, ChemChina is proposing a two-stage acquisition of Syngenta, according to a Bloomberg report. The news agency said on Friday that the state-owned Chinese company has informally offered 470 Swiss francs/share ($473.95) to buy 70% of Syngenta, valuing the company at $43.2 billion, with an option to acquire the remaining 30% of the shares at a later date. This conflicts slightly with an earlier report of ChemChina’s renewed interest of an increased offer of SF473/share, currently worth $43.5 billion, up from its initial offer, rejected by Syngenta on 12 November, of SF449/share. The new offer would allow ChemChina to integrate its own agchem operations, principally the Israeli generic pesticides maker Adama, with Syngenta's businesses before taking over complete control, Bloomberg says.