Swiss pesticides and seeds group Syngenta pushed back the expected closure of its agreed $43 billion takeover by ChemChina to the second quarter of 2017, but said it was making progress in winning regulatory approval for the deal. According to Reuters, the transaction is important for China, the world’s largest agricultural market, which is looking to Syngenta’s portfolio of chemicals and patent-protected seeds to help bolster food supplies for its huge population. The target closure date for Syngenta’s takeover was last year postponed to the first quarter of 2017, but EU antitrust regulators in January extended the deadline for their decision to April 12. Approvals from 13 regulatory authorities have been won but the go-ahead from Brazil, Canada, China, the European Union, India, Mexico and the United States is still outstanding.
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