A PYMNTS Company

EU: Regulators to OK Dow-DuPont, ChemChina-Syngenta deals next week

 |  March 23, 2017

On Thursday Reuters reported that the EU antitrust regulators are set to clear the $130 billion, Dow Chemical and DuPont merger and ChemChina’s $43 billion bid for Syngenta next week, people familiar with the matter said.

The source said that the European Commission could announce its approvals for both companies at the same time either on Monday or Tuesday.

The commission does not usually announce joint merger decisions but it probably makes sense in this case as both companies are in the agrochemicals sector, the sources said.

Both mega deals in the agrochemicals industry and another one involving Bayer and Monsanto have triggered fears among regulators and farmers that the merged companies may slow down the pipeline of new herbicides and pesticides.

Commission spokesman Ricardo Cardoso declined to comment. Dow did not immediately respond to an email for comment. A Syngenta spokesman said the Swiss company and ChemChina were confident of closing the deal in the second quarter of the year.

The EU antitrust enforcer has set an April 4 deadline for the Dow and DuPont deal, and April 12 for the ChemChina and Syngenta deal.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.