Monsanto reported higher second-quarter profit Wednesday behind increased sales in seeds and in its herbicide and crop-protection business. Net income for the agricultural giant for the quarter ending February 28 jumped 28.7 percent to $1.4 billion. “We are delighted to have delivered such an excellent first half and strong second quarter, in the face of … Read more
US authorities have agreed to the $43 billion takeover of Swiss pesticide giant Syngenta by state-owned ChemChina, marking the biggest overseas acquisition by a Chinese firm. The move lays the path for what would be the latest in a string of foreign investments by Chinese firms fuelled by Beijing’s call for its companies to “go … Read more
US antitrust regulators approved ChemChina’s $43 billion takeover of Swiss pesticide and seed giant Syngenta after they agreed the Chinese company must sell three products, the Federal Trade Commission said Tuesday. Under a preliminary settlement, the FTC said it required the divestitures to address a loss of competition over the herbicide paraquat and two other … Read more
The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment. The decision by antitrust regulators was subject to Dupont selling “major parts” of its global pesticide business, said the European Commission, the EU’s … Read more
A $1 billion bid by China’s Wanda Group for the operator of the Golden Globe awards has been aborted, the US firm’s parent has said, following reports that it was a victim of a Chinese clampdown on overseas investments. The acquisitive Chinese property-to-entertainment group had announced in November it planned to buy Dick Clark Productions, … Read more
German pharmaceuticals and chemicals giant Bayer on Wednesday said it expected further growth this year after a record performance in 2016, as its mammoth takeover of US seedmaker Monsanto remains on track. “We again posted a record operating performance — and are making good progress with the agreed acquisition of Monsanto as well,” chief executive … Read more
A $1 billion bid for US television rights holder Dick Clark Productions by Chinese conglomerate Wanda Group is in trouble, reports said, tripped up by restrictions Beijing imposed to slow a torrent of overseas acquisitions. The acquisitive property-to-entertainment group announced in November it planned to buy the operator of the Golden Globes awards, in what … Read more