WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) announced June 16 that, following a public comment period, the agency has approved a final order settling charges that the China National Chemical Corporation’s (ChemChina) proposed merger with Swiss global agricultural company Syngenta AG would harm competition in the U.S. markets for the herbicide paraquat, the insecticide abamectin and the fungicide chlorothalonil.
The FTC first announced the complaint in April. According to the agency, the merger, as it stood, would have eliminated direction competition between the companies’ branded products. Additionally, the merger would allegedly drive up prices and drive down service offerings for the products for U.S. consumers.
To settle the allegations, the companies agreed to divest the involved pesticide businesses.
The FTC voted 2-0 to approve the final order. David Morris of the Bureau of Competition is staff contact for the case.