Europe

US gives tentative OK to Chinese takeover of Syngenta

  • CORRECTS DATE -  FILE - In this Sept. 21, 2016 file photo, visitors tour the exhibition booth of ChemChina, also known as China National Chemical Corp., during the China International Chemical Industry Fair in Shanghai, China. U.S. regulators have agreed to the Chinese conglomerate’s proposed $43 billion acquisition of Swiss agribusiness giant Syngenta on condition it sells some businesses to satisfy anti-monopoly objections. The Federal Trade Commission’s announcement on Tuesday, April 4, 2017, follows approval last year by European regulators of the purchase by state-owned ChemChina. It would be China’s biggest foreign acquisition to date. (AP Photo/Andy Wong, File)

    CORRECTS DATE - FILE - In this Sept. 21, 2016 file photo, visitors tour the exhibition booth of ChemChina, also known as China National Chemical Corp., during the China International Chemical Industry Fair in Shanghai, China. U.S. regulators have agreed to the Chinese conglomerate’s proposed $43 billion acquisition of Swiss agribusiness giant Syngenta on condition it sells some businesses to satisfy anti-monopoly objections. The Federal Trade Commission’s announcement on Tuesday, April 4, 2017, follows approval last year by European regulators of the purchase by state-owned ChemChina. It would be China’s biggest foreign acquisition to date. (AP Photo/Andy Wong, File)  (The Associated Press)

  • FILE -  This Feb. 7, 2007 file photo shows the logo and headquarters of the Swiss agribusiness giant Syngenta in Basel, Switzerland. U.S. regulators have agreed to a Chinese conglomerate’s proposed $43 billion acquisition of Syngenta on condition it sells some businesses to satisfy anti-monopoly objections. The Federal Trade Commission’s announcement on Tuesday, April 4, 2017, follows approval last year by European regulators of the purchase by state-owned ChemChina. It would be China’s biggest foreign acquisition to date. (Georgios Kefalas/Keystone via AP, File)

    FILE - This Feb. 7, 2007 file photo shows the logo and headquarters of the Swiss agribusiness giant Syngenta in Basel, Switzerland. U.S. regulators have agreed to a Chinese conglomerate’s proposed $43 billion acquisition of Syngenta on condition it sells some businesses to satisfy anti-monopoly objections. The Federal Trade Commission’s announcement on Tuesday, April 4, 2017, follows approval last year by European regulators of the purchase by state-owned ChemChina. It would be China’s biggest foreign acquisition to date. (Georgios Kefalas/Keystone via AP, File)  (The Associated Press)

U.S. regulators have given tentative approval to a Chinese conglomerate's proposed $43 billion acquisition of Swiss agribusiness giant Syngenta on condition it sells some businesses to satisfy anti-monopoly objections.

The Federal Trade Commission's announcement follows approval last year by European regulators of the purchase. It would be China's biggest foreign acquisition to date.

The FTC said state-owned ChemChina and Syngenta agreed to sell businesses that make an herbicide, a pesticide and a fungicide for which it said their combined large market shares would cause "significant competitive harm."