Shareholders Approve Chem-China Purchase of Syngenta; Tyson Stocks Tumble
**Syngenta shareholders have accepted ChemChina’s $43 billion offer to buy the company, tendering more than enough shares to allow the transaction to go forward.
Syngenta announced Monday that “based on preliminary numbers, around 80.7 percent of shares have been tendered,” well above the 67 percent threshold needed.
The U.S. and the European Commission, the governing arm of the European Union, last month approved the transaction subject to certain conditions.
**Tyson Foods stock takes a tumble after the company’s net income for the quarter ending April 1 was down 21 percent from a year ago and revealed it was being investigated by the state of Florida for possible anticompetitive practices.
In a filing with the Securities and Exchange Commission, Tyson said the Florida Attorney General’s office is looking into “possible anticompetitive conduct in connection with the Georgia Dock, a chicken products pricing index formerly published by the Georgia Department of Agriculture.”
Tyson said the AG’s office sent a civil investigative demand to the company in March, in addition to a January subpoena from the SEC, which Tyson has already disclosed.
**In order to win antitrust approval for its $66 billion acquisition of Monsanto, Bayer announced it has agreed to sell its Liberty agro-chemicals and Liberty Link trait technology.
The announcement comes after South Africa’s Competition Commission weighed in over the weekend, asking for about $2.5 billion in asset sales.
Bayer says it’s agreed to the conditions and is evaluating how best to execute the imposed divestiture.