Deals
ChemChina Files for U.S. Antitrust Approval on Syngenta Deal
- Company says it submitted HSR documentation with FTC
- Deal would be largest foreign acquisition by Chinese company
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China National Chemical Corp. said it filed for U.S. antitrust approval with the Federal Trade Commission for its proposed $43 billion takeover of Swiss agrochemical company Syngenta AG.
ChemChina has submitted documentation required by the Hart-Scott-Rodino Act and expects the U.S. antitrust process to be "on track," the company said in an e-mail. The FTC, which oversees merger reviews along with the Justice Department, generally has 30 days to clear the proposed tie-up or issue a second request, seeking more information and a longer review period. When it’s a cash tender offer, the FTC has 15 days to review.