State-owned China National Chemical Corp offered Swiss agrochemical and seed producer Syngenta AG more than $43 billion to acquire its entire stake, making it the biggest acquisition deal by a Chinese company. Two companies have reached the acquisition deal in which the board of directors of Syngenta unanimously recommended ChemChina’s offer to purchase 100 percent of Syngenta’s equity. The offer price is $465 per share in cash…Full Article: China Daily Feb 2016
- Syngenta entered the Chinese market in 1998 and has invested US$360 million in the country since 2000
- In December 2015, ChemChina offered to buy 70% of Syngenta at 470 Swiss francs per share, with an option to acquire the other 30% at a later date.
- 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.