State-owned China National Chemical Corp. said Monday it was extending its $43 billion agreed takeover for Swiss pesticide and seed giant Syngenta until September.
The company, also known as ChemChina, said the offer for all Syngenta’s shares in what would be by far the biggest-ever overseas acquisition by a Chinese firm was now open until at least September 13.
“As previously stated, extensions to the tender offers are expected to occur until all conditions to the offers are satisfied, including obtaining all applicable regulatory approvals,” ChemChina said in a statement.
The offer for Syngenta shares, announced in February, had been extended in May and was due to expire on July 18.
“All of the other terms and conditions of the tender offers remain unchanged and ChemChina continues to expect to conclude the transaction by the end of the year,” said ChemChina.
Syngenta rebuffed US-rival Monsanto three times last year before accepting the ChemChina’s offer.
The proposed merger is not the only one sector, with German chemicals and pharmaceuticals giant Bayer having made in May a $62 offer for Monsanto, although the US company has yet to endorse a deal.
Source: AFP via Yahoo News
The deal includes the 600kt Acetic Acid plant and all associated third party activities on the site. Eastman and INEOS have also entered into a Memorandum of Understanding to explore options for a long-term supply agreement for vinyl acetate monomer.
The Supervisory Board of Borealis has accepted the decision of Lucrèce Foufopoulos-De Ridder, EVP Polyolefins, Circular Economy Solutions and Innovation & Technology to step down from her executive position at Borealis, and the Board of Borouge Pte effective 31 December 2023 to pursue other career opportunities.
Sidel has launched a new 100% rPET bottle base, StarLiteR, aiming to help carbonated soft drink (CSD) packaging producers embrace material circularity. StarLiteR allows CDS producers to switch to rPET bottle production easily and efficiently, while significantly reducing the impact on product quality or packaging integrity.
