The interim chief executive for Syngenta says as consolidation talks in the agriculture industry intensify, the company is discussing merger deals with a number of parties—including Monsanto.
In an interview with the Wall Street Journal, John Ramsay said the company is interested in any value-adding opportunity that exists within the industry.
Ramsay says there has been a shift in attitude from earlier in the year when Monsanto abandoned a $46 billion takeover bid for Syngenta. He says the company has been facing pressure from shareholders to consider a merger.
Ramsay says the deal between DuPont and Dow removed two potential partners for Syngenta but there are still opportunities available for the company.
He says a deal with Bayer would face “substantial regulatory challenges” because of the overlap in seed and pesticides products and a merger with BASF would also face challenges—but not as much.
On Dec. 21, China National Chemical Corp (ChemChina) raised its bid for the Swiss company. According to Bloomberg, it would be the largest ever purchase by a Chinese company. ChemChina offered to buy 70 percent of Syngenta now with an option to purchase the remaining 30 percent.
Source: www.brownfieldagnews.com