The Chinese National Chemical Corp. is nearing a deal to buy the pesticide company Syngenta AG, valuing the company at an estimated $43 billion and will represent the largest foreign acquisition taken place by a Chinese company.

Following The Wall Street Journal’s first report on the deal, shares in Syngenta have risen sharply, up 5.7% at 399.90 franks on Tuesday afternoon in Zurich.

If the deal is completed, which may be announced as early as Wednesday when Syngenta is scheduled to release its 2015 results, it would illustrate how China’s slowing economy hasn’t dampened its huge ambitions.

This deal is predicted to be welcomed by shareholders, due to the expectation of an all-cash offer, as opposed to Monsanto’s ix of cash and shares.

Martin Lehmann, a fun manager at 3V Asset Management, which holds a stake in Syngenta has said;

“ChemChina would be the perfect solution for shareholders, especially if it was all cash. It would have much less regulatory issues than a link with Monsanto, and there would likely to be less jobs lost in Switzerland,”