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zurich — ChemChina has won more than enough support from Syngenta shareholders to clinch its $43 billion takeover of the Swiss pesticides and seeds group, the two companies said on Friday.

The deal, announced in February 2016, was prompted by China’s desire to use Syngenta’s portfolio of top-tier chemicals and patent-protected seeds to improve domestic agricultural output. It is China’s biggest foreign takeover to date.

It is one of several deals that are remaking the international market for agricultural chemicals, seeds and fertilisers.

Based on preliminary numbers, around 80.7 per cent of Syngenta shares have been tendered, above the minimum threshold of 67 per cent support, the partners said in a joint statement.

The agreed offer is for $465 per share. Syngenta shares closed on Thursday at 459 Swiss francs ($464.5), and rose 0.4 per cent in early trade on Friday to 461.20 francs.

The transaction is set to close on May 18 after the start of an additional acceptance period for shareholders and payment of a special 5-franc dividend to holders of Swiss-listed shares on May 16. Holders of US-listed depositor receipts will get the special dividend in July.

Syngenta shares will be delisted from the Swiss bourse and its depository receipts from the New York Stock Exchange. —