A US federal jury on Friday ordered Swiss agribusiness giant Syngenta to pay nearly $218 million to 7,000 Kansas farmers after selling them genetically-modified corn seeds not approved for export to China. The farmers suffered profound economic damage in 2013 when Chinese authorities refused imports of corn grown with Syngenta’s bioengineered seeds, causing prices to … Read more
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
A majority of EU nations voted against genetically modified corn during a meeting of the EU appeals committee. However, that was not enough to stop GM cultivation. The decision now rests with the Commission. A majority of EU countries voted on Monday against allowing two new genetically modified crops to be grown in Europe, batting … 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