Syngenta has rejected an unsolicited offer from Monsanto to acquire the company for a reported $45-billion.
Syngenta’s Board of Directors and its legal and financial advisers, reviewed the offer and have unanimously decided to reject it as “it is not in the best interests of Syngenta, its shareholders and its stakeholders.”
The offer was for about $483 a share and 45 percent cash.
In a statement, Monsanto says it has “long respected and followed Syngenta’s business and believes combining the two companies would deliver significant value to all stakeholders, including shareholders.”
Further, Monsanto said, the combined company would provide comprehensive solutions to farmers around the world.
Source: www.brownfieldagnews.com