Syngenta Moves Closer to Deal With ChemChina
Syngenta’s board of directors approved a vote to proceed with advanced talks with ChemChina, according to a report by Bloomberg. Syngenta’s share price rose almost 3% Jan. 15 on the news that leaked from an anonymous source the previous day.
For the better part of 2015, the industry was a buzz with merger and acquisition activity, beginning with Monsanto’s unsolicited $46 billion bid for Syngenta and culminating with a Dow-DuPont deal that creates a $130-billion company with a combined $18 billion in agriculture sales in 2014.
The ChemChina deal, which is estimated at about $44 billion, would be largest-ever acquisition by a Chinese company, according to Bloomberg. A deal could be announced before the Chinese New Year in early February.