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Australia happy with ChemChina's acquisition of Syngenta

Staff Writer |
The Australian Competition and Consumer Commission will not oppose the proposed acquisition by China National Chemical Corporation's or ChemChina of Syngenta.

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ChemChina owns Adama Agricultural Solutions Limited. In Australia, Adama and Syngenta supply crop protection products such as insecticides, herbicides, and fungicides.

"The ACCC found that ChemChina would continue to face competition in the supply of crop protection products from a range of proprietary and generic suppliers such as Bayer, BASF, Monsanto, Nufarm, Dow, DuPont, and FMC," ACCC Chairman Rod Sims said.

It was in February this year that ChemChina offered to acquire the Swiss crop chemicals firm at a value of over $43 billion. The offer was $465 per ordinary share plus a special dividend of CHF 5.

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