Syngenta Agrees to $43 Billion ChemChina Takeover
Deal would be the largest foreign acquisition by a Chinese company
ZURICH—Syngenta AG on Wednesday said it agreed to a cash takeover offer from China National Chemical Corp. that values the Swiss seeds and pesticides company at more than $43 billion.
A purchase of the Basel-based company would be the largest attempt at buying a Western company by a Chinese firm to date.
Syngenta said the offer was equivalent to 480 Swiss francs a share. ChemChina has offered $465 for each Syngenta share in cash plus a special dividend of 5 Swiss francs.
Syngenta’s shares closed Tuesday at CHF392.3.