- Syngenta (NYSE:SYT) says talks with regulatory authorities to win approval for its takeover by ChemChina have been "constructive" and the goal remains to complete the deal by year-end.
- CEO Erik Fyrwald says talks are ongoing with the Committee on Foreign Investment in the U.S., which is seen as the sticking point in the regulatory passage of the deal since the transaction has implications for U.S. food security.
- The comments come as SYT's H1 sales fell 7% Y/Y to $7.1B and EBITDA fell 12% Y/Y to $1.77B, worse than the ~5% decline forecast by analysts, as its profit margin fell to 24.9% from 26.2%.