Beijing/Zurich | Reuters — State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its US$43 billion bid for Swiss pesticide and seed group Syngenta, a source with direct knowledge of the process said. Clinching China’s biggest-ever foreign acquisition is taking longer than planned amid a flurry […] Read more
ChemChina reported ready for concessions to clinch Syngenta deal
Monsanto surprises with adjusted profit as expenses drop
Reuters — U.S. seeds and agrochemicals company Monsanto, which agreed last month to be bought by Germany’s Bayer for US$66 billion, reported a surprise adjusted profit, helped by a drop in expenses and higher corn seed volumes. Monsanto agreed in September to a sweetened $128-per-share offer from Bayer that, if approved by regulators, would create […] Read more
Agricultural merger mania fuels fears among small seed sellers
Chicago | Reuters — The U.S. Justice Department is looking into concerns that global consolidation among major seed and agricultural chemical companies may squeeze supplies of the building blocks for widely used genetically modified seeds, a farm group told Reuters. The department has asked the American Soybean Association for details about how small and independent […] Read more
U.S. lawmakers skeptical of ag chemical, seed merger wave
Washington | Reuters — U.S. lawmakers expressed concern on Tuesday over a wave of mergers among companies that sell farmers their seeds, herbicides and insecticides, worrying that the deals could lead to higher prices and less innovation at a time of dropping farm incomes. Senator Richard Blumenthal, a Democrat from Connecticut, said the proposed mergers […] Read more
Bayer betting billions farmers will back linked-up supplies
Frankfurt | Reuters — Bayer’s US$66 billion purchase of Monsanto amounts to a long-term bet that farmers will grow to trust combinations of seeds and pesticides rather than continue to pick from ranges of separate products. In the short term, the German drugs and chemicals firm hopes to benefit from a marketing and sales force […] Read more
Bayer clinches Monsanto with raised US$66 billion bid
New York/Frankfurt | Reuters — German drugs and crop chemicals company Bayer has won over U.S. seeds firm Monsanto with an improved takeover offer of US$66 billion including debt, ending months of wrangling after increasing its bid for a third time. The $128 a share deal announced on Wednesday, up from Bayer’s previous offer of […] Read more
Bayer sweetens Monsanto bid as talks enter final stretch
Reuters — German pharmaceutical and crops manufacturer Bayer said on Monday that its negotiations with Monsanto had advanced, and that it was now willing to offer more than US$65 billion to acquire the world’s largest seeds company. Bayer’s announcement came as the gap in price expectations between the two companies has narrowed significantly, although important […] Read more
U.S. watchdog clears ChemChina’s takeover of Syngenta
Zurich | Reuters — A U.S. regulator has cleared ChemChina’s US$43 billion takeover of Swiss pesticides and seeds group Syngenta, the companies said Monday, boosting chances that the largest foreign acquisition ever by a Chinese company will go through. The decision should remove significant uncertainty over whether the acquisition of the world’s largest pesticides maker […] Read more
Monsanto reported giving Bayer limited access to its books
Frankfurt | Reuters — U.S. seed company Monsanto has given German suitor Bayer limited access to its books after turning down a sweetened US$64 billion takeover offer last month, two sources familiar with the situation told Reuters. The parties have not yet signed a non-disclosure agreement, which would allow Bayer to conduct due diligence, but […] Read more
Long-term U.K. study links neonics to wild bee declines
London | Reuters — Wild bees that forage from oilseed rape crops treated with insecticides known as neonicotinoids are more likely to undergo long-term population declines than bees that forage from other sources, according to the findings of an 18-year study. The new research covered 62 species of bee found in the wild in Britain […] Read more
Cyber-Savvy Farmer
