Syngenta, the world's biggest pesticides group and the third largest seed producer have turned down the takeover offer made by China National Chemical Corporation (ChemChina), citing the risk of regulatory intervention.

In relation to crop protection, Syngenta which is now at the product transformation stage has switched its research focus from the manufacturing of agricultural chemical to biological control field, therefore, even though the ChemChina’s offer was lucrative, prior to its success in developing a new generation of product in biological control, there is no way Syngenta will hastily give up its agricultural chemical business.

Anbound’s senior researcher, He Jun, is of the view that since ChemChina’s offer to take over Syngenta was rejected, this will affect ChemChina’s strategy to further its international expansion ambitions and this will help strengthen ChemChina’s strategy in domestic market.