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 US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.
