Tuesday, January 19, 2016

ChemChina and Syngenta still talking

Syngenta’s board of directors has apparently approved continuation of negotiations with ChemChina which has made a bid to buy the Swiss company.

Bloomberg News says it has confidential information from a source about the board’s approval to continue talks.

ChemChina offered about 470 Swiss francs a share in cash for Syngenta, a person familiar with the matter said last month, which would give the company a market value of about 44 billion francs ($43.8 billion US).

A Beijing-based spokeswoman for ChemChina said she couldn’t immediately comment, while a spokesman for Syngenta in the U.S. didn’t immediately return phone messages seeking comment.