Bloomberg

(Bloomberg) -- As Syngenta AG pushes to close its $43 billion takeover by China National Chemical Corp. by year’s end, regulatory approvals aren’t the only concern for its shareholders. Since the purchase was announced Feb. 3, the Swiss franc has strengthened as much as five percent against the greenback, at one point shaving nearly 2.2 billion francs ($2.3 billion) off what investors would receive since ChemChina is paying in U.S. dollars. Though the Swiss currency has since weakened, a positive for shareholders, the current exchange rate still implies a shortfall of more than 1 billion francs compared to the day the deal was announced.

To contact the reporters on this story: Timothy Sifert in Hong Kong at tsifert@bloomberg.net, Phil Serafino in Paris at pserafino@bloomberg.net. To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net.

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