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ChemChina turns to U.S. antitrust for Syngenta deal

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The ChemChina-Syngenta acquisition is making some noise again in mainstream media. The Chinese state-owned chemical company is seeking approval from the U.S. anti-trust regulator’s approval for the proposed $43 billion acquisition  of Syngenta.

ChemChina filed documentation required by the Hart-Scott-Rodino Act under the Federal Trade Commission (FTC). The FTC, along with the Justice Department, has 30 days to either approve or ask for a second request.

According to reports, the deal is the largest foreign acquisition by a Chinese company and has already won approvals from regulators in several markets, including a U.S. national security panel and Australia’s competitive landscape.

On Feb. 3, 2016, Syngenta announced that ChemChina has offered to acquire 100 percent of the outstanding share capital of Syngenta at a price of USD 465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon, and prior to, closing.

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