Deals
ChemChina Extends $43 Billion Syngenta Offer to July
- Further extensions can be made until November, prospectus says
- Companies await regulatory decisions in U.S. and elsewhere
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China National Chemical Corp. extended its tender offer for Syngenta AG shares by more than a month as it waits for regulatory approval for its planned $43 billion takeover of the Swiss seed and pesticide maker.
State-owned ChemChina offered in February to buy Basel, Switzerland-based Syngenta for $465 a share in cash plus a special dividend of five Swiss francs a share. The main offer period has been extended to July 18, with potential further extensions to be determined, CNAC Saturn, an arm of ChemChina, said in a statement Tuesday. The previous deadline was May 23.