Deals
Syngenta Rejects $45 Billion Takeover Offer From Monsanto
A Syngenta AG sign stands in front of a field of soybeans with genetically modified strains outside of Campo Nueve, Paraguay.
Photographer: Noah Friedman-Rudovsky/BloombergThis article is for subscribers only.
Syngenta AG, the world’s largest maker of agricultural chemicals, rejected a 41.7 billion Swiss-franc ($45 billion) takeover offer from U.S. rival Monsanto Co., saying it undervalued the company and a merger would have significant execution risks.
Monsanto proposed paying 449 Swiss francs a share with 45 percent in cash, Basel-based Syngenta said Friday in a statement, confirming a Bloomberg report that it had received and rejected an offer while leaving the door open for further talks. The Swiss company’s shares surged the most in more than 14 years in Zurich.