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EU: Syngenta and ChemChina miss deadline for antitrust remedies

By  |  October 24, 2016

Syngenta AG and China National Chemical Corp. didn’t submit proposed remedies to resolve potential antitrust concerns related to their planned merger by last Friday’s deadline, an EU official said Monday, raising concerns about how quickly the deal would gain regulatory approval.

European regulators have set an initial deadline for the merger probe for Oct. 28 to decide whether to clear the deal unconditionally, or open an in-depth investigation, which would last several more months and likely lead the EU to demand concessions from the parties.

Swiss seed and pesticide maker Syngenta said Monday that “constructive” discussions with EU regulators over its proposed purchase by Chinese state-owned ChemChina are continuing and that an update would be issued by Syngenta on Tuesday, along with a third-quarter trading statement.

Full Content: The Wall Street Journal

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