China National Chemical Corp (ChemChina) has acquired nearly 95 percent of the shares in Swiss pesticides and seeds group Syngenta as part of its $43 billion tender offer, China's biggest foreign takeover to date.
Announcing the definitive final results for the offer on Wednesday, ChemChina said about 94.7 percent of the shares had been tendered.
ChemChina reaffirmed its intention to request the cancellation of the remaining Syngenta shares if the 98 percent threshold is exceeded.
"To that end, it intends to acquire further shares through market purchases or in off-market transactions," the company said in a statement.
If it gets less than 98 percent, it plans to proceed to a squeeze-out merger.
ChemChina last week announced that it had issued perpetual bonds and preference shares worth $20 billion to pay for the acquisition.
Bank of China purchased $10 billion in perpetual bonds and became the largest financer of the deal, while Morgan Stanley bought $2 billion and became the only foreign bank among investors in the deal, according to the Financial Times on Wednesday.
ChemChina is also reportedly in talks over a potential merger with State-owned Sinochem to create the world's biggest industrial chemicals company.
