AFP, Zurich :
Shareholders in Swiss pesticide and seed giant Syngenta have accepted the company’s takeover by state-owned ChemChina, the companies said Friday, which would be the biggest overseas acquisition by a Chinese firm.
The proposed merger is part of a broader wave of consolidation in the agro-chemicals sector that has worried environmental activists and farmers.
At the closing date for the offer on May 4, shareholders holding around 80.7 percent of the company’s stock had accepted the $43-billion takeover, according to a preliminary count.
Subject to confirmation of the results, “the Minimum Acceptance Rate condition of 67 percent of issued Syngenta shares has been met”, they said in a statement.
Shareholders in Swiss pesticide and seed giant Syngenta have accepted the company’s takeover by state-owned ChemChina, the companies said Friday, which would be the biggest overseas acquisition by a Chinese firm.
The proposed merger is part of a broader wave of consolidation in the agro-chemicals sector that has worried environmental activists and farmers.
At the closing date for the offer on May 4, shareholders holding around 80.7 percent of the company’s stock had accepted the $43-billion takeover, according to a preliminary count.
Subject to confirmation of the results, “the Minimum Acceptance Rate condition of 67 percent of issued Syngenta shares has been met”, they said in a statement.
