The Rising Influence of Rising Affluence

[DewDiligence]

SYT accepts ChemChina’s $43B all-cash buyout offer:

http://finance.yahoo.com/news/chemchina-offers-over-43-billion-060141651.html

…the deal would help Chairman Ren Jianxin transform ChemChina into the world’s biggest supplier of pesticides and agrochemicals, while snatching an asset coveted by St. Louis-based Monsanto Co. It also underscores the importance China attaches to owning seed and cropcare technology that can boost agricultural output and help feed the world’s biggest population.

…Behind the Chinese company’s pursuit are national interests. Chinese President Xi Jinping is trying to boost agricultural output to maintain self-sufficiency as a growing middle class consumes more grain-intensive meat and farmland is converted to housing and golf courses. The World Bank estimates that China’s arable land declined 6 percent in the last decade as economic growth boomed.

If consummated, this will be China’s largest-ever takeover of a foreign business.