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.
