Hearing Scheduled for ChemChina buyout of Syngenta

The U.S. Committee on Foreign Investment has approved ChemChina’s $43 billion buyout of Syngenta.

There will be a hearing in late September between Iowa Senator Chuck Grassley and the Chairman of the Senate Judiciary Committee due to concerns that the mergers are threatening the agricultural input competition.

Grassley cites two reasons for proposing the hearing: “Partly to make sure that justice and federal trade commission does a proper job. Partly if there’s specific concerns about anti-competitive things like we did in the beer merger last December. Try to get some commitments out of the companies. What they’re going to do.“A similar deal is in the works between Dow and DuPont, which means if they are both approved these four companies would control a significant share of the market for seed and chemical products.

If you are planning to expand your company, ask the assistance of the business law attorneys at Arenson Law Group, PC, to guide you through the necessary regulations and legal steps. Call (319) 363-8199 today to speak with a mergers and acquisitions attorney about your business’s future.

 


CVS to take over Target’s pharmacies in acquisition deal

Retail pharmacy chain CVS announced its acquisition of Target’s pharmacy department for $1.9 billion, The Washington Post revealed on June 15.

The deal will result in the rebranding of Target’s 1,660 pharmacies and 80 in-store clinics to CVS. This would enable the drugstore chain to establish its market in key cities where their presence has been lacking, such as Denver, Seattle, and Portland. The deal will also allow Target to focus their strength on areas where they perform best, such as baby products and fashion.

The acquisition is pending approval by the regulators.

CVS currently has 7,800 drugstores nationwide. Last May, the pharmacy chain bought Omnicare for $10.4 billion.

Acquisitions like this could be beneficial not just to the acquiring company, but to the company selling as well. A business attorney at Arenson Law Group, PC, has the experience and resources to help you get the most out of a business deal. Call (319) 363-8199 to seek guidance on your business’ next moves today.


Kraft Foods and Heinz enter a $100 billion merger

Kraft Foods has agreed to a $100 billion merger with food company Heinz, making the combined entities the third largest food and beverage group in the country, The Telegraph reported on March 25.

The merger will bring some of the biggest food and beverage brands under one company, some of which include Heinz Tomato Ketchup and Kraft Macaroni & Cheese. The move, which has been master planned by Heinz’ owners Berkshire Hathaway and 3G Capital, is expected to bring a $28 billion revenue boost. In an interview, Heinz chairman Alex Behring said that by combining the two powerful companies, they will be able to create a stronger platform that will incite massive local and international business growth.

At Arenson Law Group, PC, our team of business law attorneys assists business through various processes, including mergers and acquisitions. Call our Cedar Rapids office at (319) 363-8199 to learn more about enlisting legal assistance in pursuing such business transactions.


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