Bloomberg Reports Sygenta-ChemChina Closer To Reality; Furthering Original Benzinga Report

Benzinga reported in early December that China National Chemical Corp, also known as ChemChina, a Chinese state-owned chemical company, was in talks to acquire

Syngenta AG (ADR)SYT

, a Switzerland-based agribusiness for $44 billion. Related Link:

EXCLUSIVE: ChemChina Expected To Bid $44 Billion For Syngenta In All-Cash Deal As of Friday afternoon, Syngenta was trading with a market cap of $34.13 billion. Bloomberg: Deal Could Be Reached By Early February

Bloomberg

reported on Thursday that ChemChina has "moved one step closer" towards acquiring Syngenta in what could prove to be the largest purchase by a Chinese company. Bloomberg, citing "people familiar with the matter," added that Syngenta's Board of Directors recently gathered and voted in favor of holding "advanced takeover talks." The source also suggested that the value of any potential deal could be around $43.8 billion. Shares of Syngenta were trading higher by 1.63 percent at $75.28 heading into the final hour of trading on Friday.

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