Syngenta Shareholders do not Approve ChemChina Deal

While the two companies may be inching closer to an agreement, a group of Syngenta shareholders opposes a merger with ChemChina. The group, according to Bloomberg, told a Swiss newspaper that “one can justifiably ask whether the board has really thought through the consequences of nationalizing Syngenta through a sale to a state-owned enterprise of a communist country.”

The group called for the ousting of the Swiss companies leadership at the next annual meeting. Syngenta Chairman Michel Demare said last week Syngenta was in talks about a possible merger and was weighing several options, including ChemChina and Monsanto. Reuters reported that Syngenta’s board of directors voted in favor of pursuing advanced takeover talks with ChemChina last week.