U.S., EU clear Chinese takeover of Syngenta

U.S. and European regulators have cleared a Chinese conglomerate’s proposed $43 billion acquisition of Swiss agribusiness giant Syngenta on condition it sells some businesses to satisfy anti-monopoly objections. The Federal Trade Commission’s announcement comes alongside the approval by European regulators of the purchase by state-owned ChemChina. It would be China’s biggest foreign acquisition to date.ChemChina, also known as China National Chemical Corp., agreed to sell businesses that make an herbicide, an insecticide and a fungicide whose combined market shares with Syngenta would harm competition, the FTC and European Commission say.