BRUSSELS/ZURICH (Reuters) —Syngenta shares took a beating Oct. 24 after the European Commission triggered doubts about Chinese state-owned chemical company ChemChina’s US$43 billion bid for the Swiss pesticides and seeds group.
The companies met with the EU antitrust authority a week ago to allay competition concerns.
The companies had apparently offered no concessions.
This means either the commission will clear the deal unconditionally by an Oct. 28 deadline or open a full investigation, a process that can take up to five months.
