Four key governments have approved the $43 billion proposed deal between ChemChina and Syngenta, putting it on track to reportedly close within the next two months.
The deal between state-owned China National Chemical Corporation and Swiss pesticides and seeds company Syngenta is the largest ever foreign takeover by a Chinese firm.
It is one of three merger-and-acquisition deals affecting the global agribusiness sector.
Executives from the two companies have said the deal is expected to close at some point before the end of 2017, but it has been buoyed by a quick succession of antitrust approvals in April. Regulators in the United States and abroad have been reviewing the ChemChina-Syngenta deal for months to make sure it will not limit competition once finalized, a concern for farmers, who are worried that increased consolidation will lead to higher prices for seeds and agrochemicals.
Most recently, China’s Ministry of Commerce approved the ChemChina-Syngenta deal on April 12.
“This represents a further step towards the closing of the transaction, which is expected to take place in the second quarter of 2017,” the companies said in a statement.
The Mexican competition authority approved the deal on April 10.
While the ChemChina-Syngenta deal has cleared most hurdles, it will still need approval from at least one more jurisdiction: India. For Syngenta, which offers a portfolio of crop protection products for growing cotton, India is an important market.
India is the second largest producer of cotton in the world.
Other deals undergoing antitrust review include a deal between Dow Chemical and DuPont, which announced that they were merging in December 2015. German pharmaceuticals giant Bayer announced it had reached a deal to buy Monsanto in September 2016.