November 1, 2016 / 5:55 AM / 3 years ago

ChemChina extends $43 billion Syngenta buyout offer to Jan 5

A woman checks her phone at the headquarters of China National Chemical Corporation in Beijing, July 20, 2009. REUTERS/Stringer/File Photo

ZURICH (Reuters) - State-owned China National Chemical Corp (ChemChina) [CNNCC.UL] on Tuesday said it has extended its $43 billion cash offer for Swiss agrichemicals group Syngenta AG SYNN.S to Jan. 5 while it works to gain regulatory approval for the deal.

“ChemChina is aiming to obtain the remaining outstanding regulatory approvals in the first quarter of 2017,” the firm said in a statement.

European Union anti-trust regulators on Friday opened an in-depth investigation into the deal, China’s biggest-ever foreign acquisition.

Reporting by Michael Shields

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