China National Chemical Corp is in talks to buy Switzerland’s Syngenta AG but its initial offer of nearly $42 billion for the world’s largest agrichemical company was rejected, Bloomberg said. State-owned ChemChina’s first offer valued the agricultural chemicals group at 449 Swiss francs per share, or 41.7 billion Swiss francs ($41.72 billion). Citing unidentified sources, it said the rejection stemmed from regulatory concerns. The two companies have not broken off talks and an agreement could still be reached in the next few weeks. Syngenta, under pressure to offer value to shareholders after turning down a big offer from Monsanto Co earlier this year, is also talking to other potential suitors, according to Bloomberg.
