China's state-owned chemical corporation ChemChina has asked US anti-trust regulators to greenlight its $43 billion acquisition of Swiss seed giant Syngenta, a report said Friday. China National Chemical Corp (ChemChina) has filed for approval from the Federal Trade Commission and the process is on track, Bloomberg News reported.
Winning the approval is a critical step towards wrapping up the biggest overseas take-over ever for a Chinese firm. US regulators have been a stumbling block for other Chinese deals. In December, American President Barack Obama blocked a Chinese company's purchase of German semiconductor equipment maker Aixtron over security concerns, resulting in the termination of the deal a few days later.