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EU: ChemChina asking for $43bn takeover approval

By  |  September 26, 2016

China National Chemical Corp. sought European Union approval for its $43 billion takeover of Syngenta AG, one of a trio of mega-deals reshaping the global agrichemicals industry already described as “quite concentrated” by the bloc’s antitrust chief.

ChemChina agreed to buy Syngenta earlier this year in a deal that would transform it into the world’s largest supplier of pesticides and agrochemicals. It is the biggest foreign acquisition for a Chinese firm. ChemChina, which is state owned, received approval from U.S. national security officials for the takeover last month.

Vestager told reporters last week that the agriculture input market is already dominated by a small number of firms and less competition for farmers risks leading to higher prices and less choice for food. She’s also cited concerns about concentration in research and development, especially for plant protection products.

Full Content: Bloomberg

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