Daily Management Review

The ‘Biggest Foreign TakeOver’ Of China Seeks More Even After Acquiring 95% Shares


06/02/2017


ChemChina is ready to carry out “squeeze-out merger” on Syngenta if the former gets less than 98% of the latter’s shares.



The ‘Biggest Foreign TakeOver’ Of China Seeks More Even After Acquiring 95% Shares
Through the “$43 billion tender offer” of ChemChina to Syngenta, the former has gathered almost ninety five percent shares of the latter, being a “Swiss pesticides and seeds group”. However, the same marks the “biggest foreign takeover to date” of China.
 
While making announcement, the “National Chemical Corporation” China reported that “around 94.7 percent of shares had been tendered”. Moreover, there was a “re-affirmation” from ChemChina’s side as it requested “the cancellation” of Syngenta’s remaining shares in case the “98 percent threshold is exceeded”. Its statement said:
“To that end, it intends to acquire further shares through market purchases or in off-market transactions”.
 
In case ChemChina receives “less than 98 percent”, it has plans of carrying out a “squeeze-out merger” process.
 
 
References:
http://www.reuters.com







Science & Technology

Tesla Considering Designing And Developing AI Chips On Its Own To Support Its Auto-Pilot Project

Verizon to introduce 5G in five American cities in 2018

Airbus, Rolls-Royce, Siemens to create an electric aircraft

Study Finds Treatment Efficacy Could Be Sacrificed For Reduced Side Effects In Cancer Therapies By Patients

Some Information About Their Self-Driving Car Research Has Been Disclosed By Apple Scientists For The First Time

A Massive Data Breach Was Covered Up By Uber By Paying Up Hackers

A City Is Can Be Converted To A Living Organism, Showcases China’s Huawei

Workers Would Be Helped To Lift More By These Robotic Vests

British Parliament to assess impact of e-cigarettes

Wind energy will provide 30% of Europe's needs by 2030

World Politics

World & Politics

15 countries with the highest level of organized crime

Athens agreed with international lenders

EU Pressure Reportedly Forces UK To Bow Down, Could Agree To Pay £50bn For Brexit Divorce

$1 Billion Is The Price For Freedom For Arrested Saudi Prince In Corruption Crackdown: Reports

U.S. Capital Washington Appears To Be In Range Of The Latest Missile Launched By North Korea

Ten biggest fears of millennials

Ireland Cancels The Need Of A Veto For Brexit Summit With Its Solidarity

Separatists of Catalonia are divided over the political course