Reading Time: 3 minutes Reuters — U.S. agribusiness leader Monsanto on Wednesday abandoned pursuit of Swiss rival Syngenta, which had rejected a recently sweetened US$47 billion offer. Syngenta shares fell more than 18 per cent on the news, while Monsanto shares jumped more than seven per cent. The Swiss agrichemicals group said its board unanimously rejected the offer, which it […] Read more
Monsanto no longer pursuing Syngenta
Monsanto sweetens offer for Syngenta
Reading Time: 3 minutes New York/Chicago | Reuters — U.S.-based Monsanto sweetened its offer to buy Switzerland’s Syngenta, valuing the company at around US$47 billion as it tries to lure the Swiss firm to the negotiating table, a person familiar with the matter said on Monday. Monsanto, which wants to combine its world-leading seeds business with Syngenta’s own seeds […] Read more
U.S. farm, consumer groups aim to block Monsanto bid for Syngenta
Reading Time: 2 minutes Reuters — Several U.S. farm and consumer groups are working on strategies to derail a proposed tie-up of Monsanto and agricultural seeds and chemicals rival Syngenta, saying a combination of the market leaders would spell fewer and higher-priced products. Coalitions of opponents are being formed and market analyses being done, moves that underscore the hurdles […] Read more
Syngenta says Monsanto’s $2 bln break-up fee comes with caveat
Reading Time: 2 minutes Frankfurt/Reuters – Syngenta has said a $2 billion break-up fee that unwanted U.S. suitor Monsanto has pledged to pay if its proposed $45 billion merger failed would only apply in limited cases, leaving its shareholders exposed to the bulk of regulatory risks. Swiss Syngenta, the world’s largest maker of farming pesticides, told Reuters that based […] Read more
In bid for Syngenta, Monsanto woos U.S. farmer support
Reading Time: 2 minutes Reuters — As Monsanto struggles to convince rival Syngenta to discuss a potential merger, the seed and agrochemical giant is also wooing U.S. farmers, aiming to ease concerns about the proposed tie-up that could prompt regulatory challenges. Company executives have been criss-crossing the U.S. heartland, meeting with soybean and corn growers and a range of […] Read more
Influential hedge fund takes stake in Syngenta
Reading Time: < 1 minute Reuters — Hedge fund Paulson + Co. has taken a stake in Syngenta, and could push for the board of directors of the Swiss pesticide maker to accept a takeover offer from U.S. seed company Monsanto, people familiar with the matter said Tuesday. Monsanto, the world’s largest seed company, made a US$45 billion bid for […] Read more
Syngenta tests investor support for Monsanto opposition
Reading Time: 2 minutes Zurich/Frankfurt | Reuters — Syngenta will sound out shareholders in the coming days for their views on the Swiss crop chemicals maker’s opposition to rival Monsanto’s US$45 billion takeover approach. Any takeover offer needs to be at a fair price and provide a high degree of certainty that it will clear regulatory hurdles, Syngenta chairman […] Read more
Syngenta rejects Monsanto’s break fee offer
Reading Time: < 1 minute Monsanto’s offer of a US$2 billion break fee if it can’t get regulatory approval for a merger with crop biotech and ag chem rival Syngenta has been rejected. The offer, made in a letter from St. Louis-based Monsanto on Saturday, “represents the same inadequate price, same inadequate regulatory undertakings to close, same regulatory risks and same […] Read more
Monsanto sweetens Syngenta play with $2B break fee
Reading Time: < 1 minute New York | Reuters –– U.S. seed and ag chem firm Monsanto has offered to pay a US$2 billion reverse break-up fee to Syngenta if it can’t obtain global regulatory approvals for an acquisition, it said in a statement on Sunday. The move, under which Monsanto would pay the fee if regulators reject the proposal, […] Read more
Sources say BASF mulling potential bid for Syngenta
Reading Time: 2 minutes Reuters — German chemicals group BASF is considering a potential offer for Syngenta, its Swiss rival which has received a C$56 billion takeover offer from Monsanto, people familiar with the matter said on Wednesday. BASF is speaking to investment bankers about the possibility of an offer for Syngenta, though it has made no decision and […] Read more
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