ChemChina’s purchase of Syngenta gets shareholder approval
Syngenta shareholders have accepted ChemChina’s $43 billion offer to buy the company, tendering more than enough shares to allow the transaction to go forward.
Syngenta announced early today that “based on preliminary numbers, around 80.7 percent of shares have been tendered,” well above the 67 percent threshold needed.
“It’s a historic day for Syngenta and truly a great day for our shareholders, for our employees, our customers and for ChemChina, so we’re very, very pleased to have this behind us,” Syngenta CEO Erik Fyrwald said in an interview with CNBC.
“All regulatory approvals and conditions required for the closing of the offer have been satisfied,” Syngenta spokesman Paul Minehart said, clearing the way for the transaction to be finalized.
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