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Syngenta's shareholders accept ChemChina merger offer

Xinhua, May 5, 2017 Adjust font size:

The majority of shareholders at Swiss agribusiness giant Syngenta have said yes to the merger offer from ChemChina, a Chinese industry leader.

As of the closing date for the offer on May 4, shareholders holding about 80.7 percent of the company's stocks had accepted the deal, according to a preliminary count, the Beijing-based ChemChina said Friday in a short statement.

Syngenta is a leading pesticide supplier worldwide. ChemChina is currently active in pesticide markets in Europe through Adama, its Israel-based subsidiary, which is the world's biggest producer of generic pesticides.

ChemChina announced it would make the offer to acquire the Swiss company at 43 billion U.S. dollars in February 2016.

ChemChina said that the acquisition has won approvals from the Chinese, EU, Mexican and U.S. competition authorities. Endi