Deals
Syngenta Slumps on Concern of Protracted ChemChina EU Review
- Failure to make concessions raises risk of longer EU probe
- EU has Oct. 28 deadline to approve or open in-depth inquiry
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Syngenta AG shares tumbled on concern that China National Chemical Corp.’s $43 billion takeover of the Swiss herbicide and pesticide maker risks regulatory delays in the European Union.
ChemChina didn’t submit so-called remedies in the EU’s early-stage review of the deal by the Oct. 21 deadline, the European Commission’s press office said by phone on Monday. Companies often decide to put off making commitments -- such as asset sales to allay competition concerns -- if they know a deal is likely to get deeper scrutiny by EU regulators.