NEW YORK (TheStreet) -- Shares of Syngenta (SYT) were falling 5.55% to $80.39 on heavy trading volume late-morning Monday as the Swiss agricultural chemicals company and Chinese state-owned China National Chemical Corp. missed a deadline on Friday to submit remedies to European Union antitrust regulators.
Earlier this year, ChemChina agreed to buy Syngenta for $43 billion, or $465 per share. The deal received regulatory approval from the U.S. in August and is expected to close by year's end.
Analysts say the missed deadline shouldn't derail the deal but it could now be delayed further, according to the Wall Street Journal.
European regulators now have until Oct. 28 to decide whether to approve the deal outright or open an in-depth investigation.
Syngenta today said "constructive" discussions with the EU are ongoing and it will issue an update on the deal tomorrow, the Journal reports.
About 1.69 million shares of Syngenta have traded so far today vs. the 30-day average volume of 689,557 shares.