ChemChina announced the final end results for its offer to acquire Syngenta. It has accumulated 94.7 % of shares in Syngenta as part of its $43 billion tender offer. This is China’s biggest foreign acquesition.
Settlement for shares tendered after the expiration of the Main Offer Period will take place on June 7, 2017. ChemChina re-affirmed its intention to request the cancellation of the remaining publicly held Syngenta shares if the 98 % threshold is exceeded. The company intends to acquire further shares through market purchases or in off-market transactions. If the level of participation remains below 98 %, ChemChina re-affirmed its intention to proceed to a squeeze-out merger.
- Syngenta, Basel, Switzerland
- China National Chemical Corporation (ChemChina), Beijing, China,