Site icon China Economic Review

ChemChina seeks US antitrust approval for Syngenta deal

China National Chemical Corp. said it filed for US antitrust approval with the Federal Trade Commission for its proposed $43 billion takeover of Swiss agrochemical company Syngenta AG. ChemChina has submitted documentation required by the Hart-Scott-Rodino Act and expects the US antitrust process to be “on track,” the company said in an e-mail. The FTC, which oversees merger reviews along with the Justice Department, generally has 30 days to clear the proposed tie-up or issue a second request, seeking more information and a longer review period. When it’s a cash tender offer, the FTC has 15 days to review. According to Bloomberg, the proposed transaction already has been cleared by a US national security panel and won antitrust approval in Australia, where there are overlapping products between Syngenta and ChemChina’s Israeli-based generic agrochemical maker Adama.

Exit mobile version