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U.S. watchdog clears ChemChina's takeover of Syngenta

A U.S. regulator has cleared ChemChina's $43 billion takeover of Swiss pesticides and seeds group Syngenta (SYNN.S), the companies said on Monday, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.

The decision should remove significant uncertainty over whether the acquisition of the world's largest pesticides maker will be completed.

Syngenta shares ended trading on Friday at 380.80 Swiss Francs ($396), some 100 Swiss francs less than what ChemChina's offer valued the company.

Reuters had reported earlier that the acquisition was in the final stages of being cleared by the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes deals for national security implications.

"China National Chemical Corporation (ChemChina) and Syngenta today announced that the companies have received clearance on their proposed transaction from the Committee on Foreign Investment in the United States (CFIUS)," a...


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