ChemChina Gets EU Nod for Syngenta Deal One Day After U.S.
China National Chemical Corp. won European Union antitrust approval for its $43 billion takeover of Swiss pesticide maker Syngenta AG, a day after the U.S. gave its blessing, bringing China’s largest foreign acquisition closer to the finish line.
ChemChina’s offer to divest some pesticides and other agricultural products will remove "problematic overlaps" and allow the EU to clear the deal, the European Commission said in an emailed statement. EU Competition Commissioner Margrethe Vestager praised the companies for being "prepared to address our concerns" with the concessions, she said at a news conference, as she blocked another deal based on a proposed divestment that fell short.
Click Here to read more.