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China: ChemChina in talks for Syngenta for $24bn

 |  November 15, 2015

Two and a half months after fending off a $46 billion bid from Monsanto, Switzerland’s Syngenta is back in play — this time from China.

China National Chemical Corp. is in talks to buy the pesticide maker in what would be the largest acquisition ever by a Chinese company, people with knowledge of the matter said. Syngenta shares gained the most in six months.

Syngenta has a substantial presence in Nebraska. A year ago, Syngenta celebrated a $63 million expansion of its hybrid corn seed processing plant along U.S. 34 in Hamilton County. Expansion of the plant near Phillips, which was completed and operating in time for the 2013 harvest, included the acquisition of about 40 acres and expanded the workforce by 50 percent, bringing the number of full-time and seasonal employees to 375.

ChemChina, as the state-owned company is known, Syngenta at $42 billion, said one of the people, who asked not to be identified because the information is private.

Full content: The New York Times

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