FTC Requires China National Chemical Corporation and Syngenta AG to Divest U.S. Assets as a Conditio

Federal Trade Commission press release -------- China National Chemical Corporation (“ChemChina”) and Swiss global agricultural company Syngenta AG have agreed to divest three types of pesticides, in order to settle Federal Trade Commission charges that their proposed merger would harm competition in several U.S. markets. According to a complaint filed by the FTC, the merger as originally proposed is likely to cause significant competitive harm in the U.S. markets for three pesticides: the herbicide paraquat, which is used to clear fields prior to the growing season; the insecticide abamectin, which protects primarily citrus and tree nut crops by killing mites, psyllid, and leafminers; and the fungicide chlorothalonil, which is used mainly to protect peanuts and potatoes. To get more in depth information click on the picture below to read the release.