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BEIJING – 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."