China National Chemical Corporation (ChemChina) announced today that it has extended its offer to buy Syngenta AG until March 2, 2017.
As previously stated, extensions to the tender offers are expected to occur until all conditions to the offers are satisfied, including obtaining all applicable regulatory approvals. All of the other terms and conditions of the tender offers remain unchanged. ChemChina is aiming to obtain the remaining outstanding regulatory approvals in the first quarter of 2017.
On February 3, 2016, ChemChina announced its agreement with Syngenta to acquire Syngenta through a public tender offer for all publicly held Common Shares pursuant to Swiss tender offer rules (the “Swiss Offer”) and a public tender offer for Common Shares held by U.S. holders and all outstanding ADSs pursuant to U.S. tender offer rules (the “U.S. Offer”). Taking into account the previous extensions, the last one having been announced on November 1, 2016, the Swiss Offer was previously scheduled to expire at 4:00 p.m. CET, on January 5, 2017 and the U.S. Offer was previously scheduled to expire at 10:00 a.m., New York City time, on January 5, 2017. ChemChina has extended the Swiss Offer until 4:00 p.m. CET, on March 2, 2017 and extended the U.S. Offer until 10:00 a.m., New York City time, on March 2, 2017, in each case, unless further extended. As of 5:00 p.m., New York City time, on December 16, 2016, approximately 19,222,302 Common Shares (including those represented by ADSs) had been validly tendered in, and not withdrawn from, the Offers.