1 Min Read
ZURICH, May 5 (Reuters) - ChemChina's has won more than enough support from Syngenta shareholders to clinch its $43 billion takeover of the Swiss pesticides and seeds group, the two companies said on Friday.
"At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered. Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met," they said in a joint statement.
The agreed offer is for $465 per share. Syngenta shares closed on Thursday at 459 Swiss francs ($465.14).
$1 = 0.9868 Swiss francs Reporting by Michael Shields