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Syngenta 'turns down $42bn offer' by state-owned Chinese firm

  • Swiss pesticide giant Syngenta has reportedly turned down a $42 billion takeover bid from China National Chemical Corp in what would have been the biggest acquisition of a European firm by a Chinese bidder.   

    Syngenta, whose market value is about $32 billion, turned down the $42 billion offer by the state-owned company, citing a risk of regulatory intervention, reports say.

    However, the two firms are still believed to be in talks and a deal may well be reached within the next few weeks, reports say.

     

     

    Tagged as: Swiss pesticide, Syngenta, China National Chemical Corp, deal, business news