China National Chemical Corporation has announced the definitive end results for ChemChina’s offer to acquire Syngenta, according to which around 94.7% of shares have been tendered.
Settlement for shares tendered after the expiration of the Main Offer Period will take place on June 7, 2017.
ChemChina re-affirmed its intention to request the cancellation of the remaining publicly held Syngenta shares in accordance with the Swiss Financial Markets Infrastructure Act if the 98% threshold is exceeded. To that end, it intends to acquire further shares through market purchases or in off-market transactions.
If the level of participation remains below 98%, ChemChina re-affirmed its intention to proceed to a squeeze-out merger.