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Two-Stage Takeover
World Economy

Two-Stage Takeover

China National Chemical Corp. improved its offer to buy Syngenta AG, proposing a complex two-stage takeover that would mark the biggest-ever acquisition by a Chinese company, people with knowledge of the matter said, Bloomberg reported. ChemChina, as the state-owned company is known, offered to purchase 70% of Syngenta now, with an option to acquire the remaining 30% of the company at a later date, said the people, who asked not to be identified because the information is private. Basel-based Syngenta, the world’s largest pesticide maker, will hold a board meeting before the end of the year to vote on the deal, the people said.

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