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Business

Multi-billion ChemChina deals moves a step closer

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Opening sequence

Business

Multi-billion ChemChina deals moves a step closer

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COMING UP:Multi-billion ChemChina deals moves a step closer

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Transcript

00:00:01
>> It's certainly taking its time, but a deal between Syngenta and ChemChina is looking more likely. A key US national regulator has given its approval for the Chinese chemicals company to take over the Swiss pesticides and seeds group. The deal, first announced back in February, is now valued at around $43 billion.
00:00:21
The decision will be scrutinized by Monsanto, the world's largest seed company. It's considering whether to sell itself to Germany's Bayer. Last year, Syngenta turned down offers from Monsanto. All this at a time when China looks to secure food supplies for its population. There are plenty of other hurdles yet for ChemChina and Syngenta, the Swiss firm making no mention of any concessions they may have made to win clearance.
00:00:48
But the largest foreign acquisition by a Chinese firm is a significant step closer.