Farms.com Home   News

Syngenta Shareholders Accept ChemChina Offer

Source: Syngenta News Release

ChemChina has won more than enough support from Syngenta shareholders to clinch its $43 billion takeover

 China National Chemical Corporation (ChemChina) today announced the provisional interim results for ChemChina’s offer to acquire Syngenta. At the end of the Main Offer Period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered. Subject to confirmation in the definitive notice of interim results scheduled for May 10, the Minimum Acceptance Rate condition of 67 percent of issued Syngenta shares has been met. The prospective timetable for the closing of the offer is as follows:

 

Wednesday, May 10, 2017

Definitive notice of the interim result of the Offer

Thursday, May 11, 2017

Start of the Additional Acceptance Period

Tuesday, May 16, 2017

Payment of Special Dividend to shareholders1

Thursday, May 18, 2017

First Settlement

Wednesday, May 24, 2017

End of the Additional Acceptance Period

Friday, May 26, 2017
(at the latest)

Provisional notice of the end result of the Offer

Wednesday, May 31, 2017

Definitive notice of the end result of the Offer

Wednesday, June 7, 2017

Second Settlement

 1 Holders of ADSs will receive the Special Dividend in mid-July.

Further, as soon as permitted by law and applicable regulations, it is intended to de-list the shares from the SIX and to de-list the ADSs from the NYSE.

About Syngenta

Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter® at www.twitter.com/Syngenta.

About ChemChina

ChemChina, which is headquartered in Beijing, China, possesses production, R&D and marketing systems in 150 countries and regions. It is the largest chemical corporation in China, and occupies the 234th position among the Fortune Global 500. The company’s main businesses include materials science, life science, high-end manufacturing and basic chemicals, among others. Previously, ChemChina has successfully acquired 9 leading industrial companies in France, United Kingdom, Israel, Italy and Germany, etc. To learn more visit www.chemchina.com and www.chemchina.com/press. Disclaimer This press release is not an offer to purchase or a solicitation of an offer to sell any securities.


Trending Video

Is it Financially Worth it to Graze Past First Hollow Stem?

Video: Is it Financially Worth it to Graze Past First Hollow Stem?

Eric DeVuyst, OSU Extension agricultural economist, crunches the numbers to determine whether it’s worth it to harvest wheat pasture for grain or graze it out for cattle in a season with good wheat prospects and high beef prices.