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On October 28, the EU anti-monopoly regulator announced that it will conduct an in-depth investigation into the US$43 billion acquisition of Swiss pesticide seed group Syngenta by China National Chemical Corporation.
This is the largest foreign acquisition in China’s history.
It was decided on March 15 whether to approve the transaction
.
According to a foreign financial website MarketWatch, the European Commission said that Syngenta and ChemChina's agricultural subsidiary Adama Agricultural Solutions have overlapping businesses in crop protection products, such as herbicides and pesticides
.
He also pointed out that “transactions take place in the same industry, and the total share in many markets is relatively concentrated
.
” EU Antitrust Commissioner Margrethe Vestager said: “We need to carefully evaluate whether this proposed merger will result in higher product prices, or Reduce farmers’ choices
.
” On October 25, Syngenta said that China National Chemical Corporation’s acquisition of the company is expected to be postponed until the first quarter of 2017, and the two companies are seeking EU regulatory approval
.
"China National Chemical Corporation and Syngenta will continue to advance the transaction with all their strength and are confident of its completion," said Syngenta CEO Erik Fyrwald
.
This transaction is not the only M&A case of concern to regulators
.
It also includes: rivals DuPont Co.
, Ltd.
and Dow Chemical Company are seeking to merge, Bayer's $57 billion acquisition of US biotech seed giant Monsanto
.
This is the largest foreign acquisition in China’s history.
It was decided on March 15 whether to approve the transaction
.
According to a foreign financial website MarketWatch, the European Commission said that Syngenta and ChemChina's agricultural subsidiary Adama Agricultural Solutions have overlapping businesses in crop protection products, such as herbicides and pesticides
.
He also pointed out that “transactions take place in the same industry, and the total share in many markets is relatively concentrated
.
” EU Antitrust Commissioner Margrethe Vestager said: “We need to carefully evaluate whether this proposed merger will result in higher product prices, or Reduce farmers’ choices
.
” On October 25, Syngenta said that China National Chemical Corporation’s acquisition of the company is expected to be postponed until the first quarter of 2017, and the two companies are seeking EU regulatory approval
.
"China National Chemical Corporation and Syngenta will continue to advance the transaction with all their strength and are confident of its completion," said Syngenta CEO Erik Fyrwald
.
This transaction is not the only M&A case of concern to regulators
.
It also includes: rivals DuPont Co.
, Ltd.
and Dow Chemical Company are seeking to merge, Bayer's $57 billion acquisition of US biotech seed giant Monsanto
.
