Sygenta takeover bid extended amid scrutiny

Chinese National Chemical Corp. extended its tender offer for Syngenta AG shares by more than a month to July 18 as it waits for regulatory approval for its planned $43 billion takeover of the Swiss seed and pesticide maker. According to Bloomberg, ChemChina aims to complete the deal by the end of 2016 in what would be the biggest acquisition by a Chinese firm. While the transaction has to gain approval from antitrust authorities in Europe and elsewhere, the toughest scrutiny is expected to come from a U.S. national security panel called the Committee on Foreign Investment in the United States, or CFIUS.