ChemChina seeks more time for review

China National Chemical Corp is seeking more time for the United States to complete a national security review of its planned takeover of Swiss chemical company Syngenta AG, according to people familiar with the matter.

The companies resubmitted the $43 billion transaction to the government panel that reviews acquisitions of US businesses by foreign investors, said the people, who asked not to be named because the process is confidential.

The Committee on Foreign Investment in the US, which can recommend to the president that transactions be blocked if they allegedly pose a risk to national security, has a maximum of 75 days to complete reviews. Refiling restarts that clock.