M &a: Chem China- Syngenta(Switzerland) CASE 1 Friendly Takeover Syngenta Switzerland Offer LUS subsidiaries (incl, research) S 43bn/$465 per share China national Latin america 30% Chemical corp. North America 25 (Chem China) Yet a Europe, asia. Project! Middle east 31% Asia pacific 14% State-owned Assets Supervision and US Investment Controls(CFIUs) Administration ■ Antitrust issues Commission-SASAC Takeover Law(Friendly/Hostile) CESLELECTIVE-APRIL2016 9CESL ELECTIVE - APRIL 2016 9 M & A : ChemChina – Syngenta (Switzerland) CASE 1 China National Chemical Corp. (ChemChina) State-owned Assets Supervision and Administration Commission-SASAC Syngenta Switzerland US subsidiaries (incl. research) Latin America 30% North America 25% Europe, Asia, Middle East 31% Asia Pacific 14% Friendly Takeover Offer $ 43bn/$ 465 per share ▪US Investment Controls (CFIUS) ▪Antitrust Issues ▪Takeover Law (Friendly/Hostile) Yet a Project!