ChemChina wows with $43b purchase of Syngenta

The Chinese state-owned chemicals producer's bid for the Swiss agrochemicals group would be largest-ever offshore acquisition by a Chinese company.
Courtesy of Syngenta
Courtesy of Syngenta

China National Chemical Corporation (ChemChina) underlined its credentials as China’s most aggressive offshore state-owned acquirer with a $43 billion bid for Syngenta that would, if successful, mark the largest-ever offshore acquisition by a Chinese company

ChemChina said it had bid $465 per share in cash for all of the equity of the Swiss seed and pesticide maker, as well as offering a special CHF5 dividend to Syngenta’s shareholders, provided they approve the acquisition

The offer marks an 18 5% premium to the company’s closing CHF392 3 ($385 3) share valuation on February 2 and compares well against the CHF288 50 to CHF435 20 range that the shares have traded in over the past year

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