China National Chemical Corporation (ChemChina) today announced the definitive end results for ChemChina’s offer to acquire Syngenta, according to which around 94.7 percent of shares have been tendered.
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. To that end, it intends to acquire further shares through market purchases or in off-market transactions.
If the level of participation remains below 98 percent, ChemChina re-affirmed its intention to proceed to a squeeze-out merger.