Syngenta and Valagro withdraw from intended Sicit deal

摘要

Syngenta Crop Protection and its Italian biostimulants subsidiary, Valagro (Atessa), are withdrawing their non- binding expression of interest to Italian biostimulants producer Sicit Group’s (Arzignano) board to acquire the business. They cite concerns over articles 102 and 106, fourth paragraph, of the Italian Financial Act. Article 102 describes “bidder obligations and prohibitive powers” whereas Article 104 deals with “defensive measures” by companies being acquired.