State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its $43 billion bid for Swiss pesticide and seed group Syngenta, Reuters reports. Clinching China’s biggest-ever foreign acquisition is taking longer than planned amid a flurry of deals in the agriculture sector that Syngenta, the world’s biggest pesticides maker, said on Tuesday had swamped competition watchdogs. Syngenta expects the transaction to close around the end of March 2017, rather than this year as first planned, but insisted it would go ahead despite increased scrutiny by watchdogs. Syngenta’s deal with ChemChina is one of two under EU scrutiny, while another mega deal involving Bayer and Monsanto is expected to land on the regulator’s desk in coming months.
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