ChemChina offer to buy Syngenta expected to close by end of 2016
Syngenta this week announced that ChemChina has offered to acquire the company at $465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon and prior to closing. The offer is equivalent to a Swiss franc value of CHF 480 per share1. Syngenta shareholders will in addition receive the proposed ordinary dividend of CHF 11 in May 2016. It is planned to make a facility available for the conversion of US dollar sales proceeds into Swiss francs on closing.
Syngenta’s board considers that the proposed transaction respects the interests of all stakeholders and is unanimously recommending the offer to shareholders. A Swiss and U.S. tender offer will commence in the coming weeks and the transaction is expected to conclude by the end of the year.
Syngenta’s existing management will continue to run the company.
The transaction will enable further expansion of Syngenta’s presence in emerging markets and notably in China.
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