A PYMNTS Company

Switzerland: Syngenta rejects $45 billion takeover offer from Monsanto

By  |  May 10, 2015

Syngenta rejected an unsolicited takeover offer valued at roughly $45 billion from US rival Monsanto, saying the proposed deal undervalued the Swiss agrochemical giant.

In a statement, Basel-based Syngenta said Monsanto had proposed to buy Basel-based Syngenta for 449 Swiss francs per share, with roughly 45% of the payment in cash.

Syngenta said its board of directors unanimously rejected the proposal because it wasn’t in the best interests of the company or its shareholders.

“The offer fundamentally undervalues Syngenta’s prospects,” Syngenta said in its statement Friday. The company added that Monsanto’s proposal underestimated risks involved in executing the deal as well as the regulatory scrutiny it would generate.

 

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.