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Canada: Competition watchdog clears Syngenta takeover

By  |  February 15, 2017

Canada’s farmers aren’t likely to see less competition for their crop chemical dollars if the owner of Adama Canada buys Syngenta, the Canadian antitrust watchdog has ruled.

The Competition Bureau on Tuesday issued a “no action” letter for the takeover of Syngenta by China National Chemical (ChemChina), saying the deal is “unlikely to result in a substantial lessening or prevention of competition for the supply of pesticides in Canada.”

Even in cases where Syngenta and ChemChina’s Adama arm have competing products on the Canadian market, the bureau said its investigation shows there would still be “sufficient competition from existing or new products to constrain prices.”

State-owned ChemChina in February 2016announced its friendly US$43 billion bid for Syngenta, which if successful would be the biggest-ever foreign acquisition by a Chinese company.

Full Content: Canadian Cattlemen

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