- As China looks to slash the number of state-owned companies to create larger industry players, Sinochem and ChemChina have begun discussions about a possible merger to create a chemicals, fertilizer and oil giant with almost $100B annual revenue.
- While still at an early stage, the talks come as as ChemChina finalizes a $43B takeover of Syngenta (NYSE:SYT), which would be China's largest-ever foreign investment.