Ag companies in mergers meet with EU regulators
Parties in two of the three big ag chemical company proposed mergers have taken steps this week to try and get regulatory approval from the European Union.
Syngenta AG and China National Chemical Corporation (ChemChina) reportedly submitted their formal remedies January 9th. The Chinese state-owned company plans a $43 billion-dollar takeover of Switzerland-based Syngenta. The EU started a review of the merger last fall, saying that Syngenta and Adama Agricultural Solutions of Israel that’s controlled by ChemChina had “strong overlapping portfolios.” DTN says the EU regulator has until April 12th to decide on the merger.
Dow and Dupont held a private hearing with the EU on Monday – reportedly over innovation concerns with their $60 Billion dollar proposal.
The Bayer and Monsanto merger also needs EU approval. Full U.S. regulatory approval is pending for all three mergers.
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