Zeneca + Novartis = Syngenta

Article Abstract:

The crop protection chemicals industry experienced a wave of mergers and acquisitions throughout 1999 with major players Novartis and Zeneca Ag Products capping the year with the announcement of a proposed merger. The new entity resulting from the Novartis-Zeneca merger will be called Syngenta, which reportedly will be the first international company dedicated to agribusiness. Syngenta will be a titan in the industry as Zeneca's and Novartis' combined sales totalled $7.9 billion in 1998.

Zeneca Ag Products

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Syngenta gets nod

Article Abstract:

Syngenta AG has received approval from shareholders of its parent companies, AstraZeneca and Novartis as well as the US Federal Trade Commission. The two firms merged their agricultural chemical units to create Syngenta which will also rank third in commercial seed for a range of vegetables, flowers and crops. Prior to their merger, Zeneca and Novartis Agribusiness sold their acetochlor herbicide line and the Flint funigide business, respectively.

All Other Industrial Machinery Manufacturing, Fertilizer & Ag Chemicals Equip, Agricultural chemicals, Chemical processing equipment

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Novartis sells Flint

Article Abstract:

Novartis has sold its worldwide Flint fungicide business to Bayer Crop Protection for approximately $760 million, in an effort to win US Federal Trade Commision approval for its merger with Zeneca Agrochemicals. The sale only includes production facilities and associated property rights, and leaves product inventories with Novartis. The company and Zeneca only await FTC approval since the European Commission has already approved the merger.

Asset sales & divestitures

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