China National Chemical Corp is in talks to buy Swiss pesticide maker Syngenta AG in what would be the largest acquisition by a Chinese company of a European target, people with knowledge of the matter said. The State-owned ChemChina offered about 449 Swiss francs ($448) a share, which values Syngenta at about 41.7 billion francs, said one of the people, who asked not to be identified because the information is private. Syngenta, which has a market value of about $32 billion, rejected that offer citing regulatory risk, the person said…Full Article: China Daily Nov 2015
- In October 2015, Syngenta’s CEO quit and was provisionally replaced by the company’s CFO in the wake of the former’s refusal to consider Monsanto’s US$47 billion buy-out.
- In August 2015, Monsanto formally withdrew its takeover offer to Syngenta.
- In March 2015, ChemChina agreed to purchase a 26.2% stake in Italy’s Pirelli & C SpA (Milan based tire manufacturer) for US$7.7 billion.
- In August 2013, China National Chemical Corp (ChemChina), China’s largest generic agricultural-chemical company, was looking into possible U.S. market acquisitions.
- Found in 2004 and headquartered in Beijing, ChemChina Is China’s largest generic agricultural-chemical company. The company manufactures a variety of chemical products including animal nutrition products, rubber, agrochemicals, including chemical fertilizers and pesticides.