In December we thought it likely that Syngenta (SW:SXX) would be subject to another takeover approach in 2016 - and we didn't have to wait for long. China National Chemical Corporation (ChemChina) has come in with another offer that values the giant Swiss agribusiness at $43bn (£30bn), or 480 Swiss francs a share. Syngenta said it was "unanimously recommending the offer to shareholders" as the deal will help it expand rapidly in China's vast agricultural market.
The bid comes at a time when Syngenta has been facing difficulties in some of its key markets, a point borne out by its latest preliminary figures. Full-year earnings have been held in check by low crop prices, emerging market instability and negative currency effects. As a consequence, the group reported net profits of $1.3bn, a 17 percent decline from the previous year.
