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Reports: ChemChina, Syngenta close to deal

According to multiple media reports, China National Chemical Corp.—better known as ChemChina—is close to finalizing an agreement to buy Syngenta AG for 43 billion dollars.

However, the Wall Street Journal reports that final talks are still ongoing and could still fall apart or be delayed.

The deal would reportedly make ChemChina the world’s biggest supplier of agricultural chemicals. Bloomberg Business says the deal would also underscore the importance China attaches to owning seed and crop care technology that can increase agricultural output and help feed a growing population in the world’s most populous country.

Last year, Syngenta rebuffed Monsanto which reportedly was willing to offer 46-billion dollars in cash and stock, three-billion more than the reported ChemChina offer.