Analysts are watching regulatory progress on China National Chemical Corporation’s takeover of Syngenta for signs of any shifts in the relationship between China and US, and China and the European Union.

In January, the European Commission asked for more information from the two companies. One major concern is that the acquisition of Basel, Switzerland based Syngenta might result in higher prices for crop protection products sold to EU farmers.

The EU review was extended until April 12 to allow time to discuss proposals submitted by the companies to alleviate these concerns

In the United States, the Federal Trade Commission is also seeking more information as it proceeds with its review, though a Syngenta spokesman has expressed optimism that the deal will be approved in the US, possibly ahead of the April 12 deadline for a decision by the European Commission.

ChemChina filed for US approval in January. The FTC had an initial 15 days to decide whether to approve the deal under merger guidelines, but requests for more information are common, and can take several months.

The FTC is heavily involved since a significant part of Syngenta's revenues come from selling seeds and crop protection products in the US, where it also has production facilities.

The takeover is one of three deals that are re-ordering the global agrochemicals industry. Dow Chemical and DuPont are working on a merger, and are discussing the sale of some units in order to meet EU regulatory concerns. And Bayer AG has an agreement in place to acquire Monsanto. That will leave three global players, from the US, Germany and China.

EU Competition Commissioner Margrethe Vestager has said that the EU will carefully assess whether the various proposed mergers would lead to higher prices or a reduced choice for farmers.

ChemChina already controls Adama, a major supplier of crop protection products to EU farmers. Syngenta is listed on the SIX Swiss Exchange.