Monday, December 21, 2015

ChemChina rumoured to be bidding again for Syngenta

There are rumours that ChemChina is preparing another bid to buy Syngenta AG of Switzerland, one of the world’s largest pesticides and seeds companies.

Syngenta has spurned previous offers from ChemChina and Monsanto as inadequate.

Informed sources are cited in an online news report that says one ChemChina offer is for 70 per cent of Syngenta with an option to later take the remaining 30 per cent.

That source also said ChemChina has also made an offer to buy the company in one step.

Syngenta’s management and board of directors is facing increased pressure to do something now that Dow and DuPont have announced their intention to merge, followed by a split into three specialty units, one of them for agriculture.