ChemChina Says 94.7% Of Syngenta Shares Tendered

(RTTNews) - China National Chemical Corp. or ChemChina announced the definitive end results for ChemChina's offer to acquire Syngenta (SYT), according to which around 94.7 percent of shares have been tendered.

ChemChina noted that the Settlement for shares tendered after the expiration of the Main Offer Period will take place on June 7, 2017.

ChemChina re-affirmed its intention to request the cancellation of the remaining publicly held Syngenta shares in accordance with the Swiss Financial Markets Infrastructure Act if the 98 percent threshold is exceeded.

If the level of participation remains below 98 percent, ChemChina re-affirmed its intention to proceed to a squeeze-out merger.

It was in February 2016 that ChemChina offered to acquire the Swiss crop chemicals firm at a value of over $43 billion. The offer was $465 per ordinary share plus a special dividend of CHF 5.