China National Chemical Corp, better known as ChemChina, has once again extended the deadline of its $43 billion acquisition of Swiss seed and pesticide company Syngenta Inc.  

ChemChina has now set a new deadline of September 13 to acquire the giant Swiss agricultural company, South China Morning Post reported. The latest extension in the deadline is reportedly due to non-fulfillment of many important conditions that are part of the acquisition deal, including regulatory approvals.

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The Syngenta deal, touted as largest foreign acquisition by a Chinese company, has already been extended twice. The first deadline was set on May 23, and it was later extended to July 18.

The deal can be "extended at any time and from time to time ... until such time [that] all conditions to the offers are satisfied," the offer's shareholders prospectus said, adding that any extension beyond November 23 would require Swiss regulator's approval.

ChemChina on Monday issued a statement on its official website with regards to the latest extension in the acquisition deadline. "All of the other terms and conditions of the tender offers remain unchanged, and ChemChina continues to expect to conclude the transaction by the end of the year," the statement said.  

One of the important conditions for the successful completion of the deal is that about 67 percent of Syngenta shares ought to be tendered by its shareholders in response to the offer. Additionally, the deal requires approval by anti-monopoly regulators in Europe and other markets where Syngenta is running its operations.

Experts claim that acquisition of Syngenta would help ChemChina in gaining technology for genetically modified (GMO) seeds. The GMO technology is considered critical for enhancing production of major oilseed including soybeans, corn, and cotton.

Syngenta is widely considered among rare agricultural company that posses advanced GMO technology. The popular US-based agricultural company Monsanto, which also posses advanced GMO technology, was in the fray to acquire Syngenta. However, Syngenta management snubbed Monsanto's offer, citing that the deal would have faced difficulty in getting the approval of regulators.   

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