Frankfurt | Reuters — Syngenta and other major seeds and crop chemicals companies are intensively discussing tie-ups, the Financial Times quoted the Swiss firm’s chairman as saying Wednesday, adding to a chorus of voices predicting a sector shake-up. Conversations among the leading players in the industry are “extremely active,” the newspaper quoted Michel Demare as […] Read more
Syngenta ready to play role in sector shake-up
Syngenta still among options for Monsanto takeover bids
St. Louis | Reuters — Monsanto executives are discussing whether the world’s largest seed company should acquire agrochemical rivals, including top pesticide maker Syngenta, Monsanto president Brett Begemann said Tuesday. “Everybody’s talking now. There’s multiple ways things can occur,” he said. Monsanto abandoned a $45 billion bid for Syngenta in August (all figures US$). Begemann […] Read more
Syngenta reported rejecting ChemChina takeover offer
Reuters — Syngenta has rejected ChemChina’s offer to buy the Swiss agricultural chemicals group, citing regulatory concerns, Bloomberg reported on Thursday. China National Chemical Corp., better known as ChemChina, offered about 449 Swiss francs (C$597) per share for Syngenta, valuing the Basel, Switzerland-based company at about 41.7 billion Swiss francs (C$55.4 billion), according to the […] Read more
Syngenta CEO leaves in wake of Monsanto deal rejection
Zurich | Reuters –– Syngenta CEO Mike Mack is stepping down as head of the Swiss agrochemicals group just two months after the company spurned a US$47 billion takeover approach from U.S. rival Monsanto. Mack, 55, will quit at the end of the month and chief financial officer John Ramsay will take charge on an […] Read more
Monsanto slashing 2,600 jobs, buying back shares as sales fall
Reuters — Monsanto, one of the world’s largest seed and agrichemical companies, said Wednesday that it was slashing 2,600 jobs and restructuring operations to cut costs in a slumping commodity market. The company, which said it expected low prices for agricultural products to squeeze results well into 2016, also reported a much wider quarterly loss […] Read more
France bolsters ban on genetically modified crops
Paris | Reuters — France is to use a new European opt-out scheme to ensure a ban on the cultivation of genetically modified crops in the country remains in place, it said on Thursday. The European Union’s largest grain grower and exporter has asked the European Commission for France to be excluded from some GM […] Read more
Monsanto, rivals eye next step after Syngenta deal collapse
Chicago | Reuters –– Monsanto, having ditched an audacious US$46 billion offer for Syngenta, may downshift to a humbler strategy of beefing up its crop protection portfolio through other acquisitions, partnerships and licensing agreements. The deal’s collapse leaves Monsanto, Syngenta and other agrochemical sector companies facing a bleak landscape of plummeting grain prices and farm […] Read more
Monsanto no longer pursuing Syngenta
Reuters — U.S. agribusiness leader Monsanto on Wednesday abandoned pursuit of Swiss rival Syngenta, which had rejected a recently sweetened US$47 billion offer. Syngenta shares fell more than 18 per cent on the news, while Monsanto shares jumped more than seven per cent. The Swiss agrichemicals group said its board unanimously rejected the offer, which it […] Read more
Monsanto sweetens offer for Syngenta
New York/Chicago | Reuters — U.S.-based Monsanto sweetened its offer to buy Switzerland’s Syngenta, valuing the company at around US$47 billion as it tries to lure the Swiss firm to the negotiating table, a person familiar with the matter said on Monday. Monsanto, which wants to combine its world-leading seeds business with Syngenta’s own seeds […] Read more
U.S. farm, consumer groups aim to block Monsanto bid for Syngenta
Reuters — Several U.S. farm and consumer groups are working on strategies to derail a proposed tie-up of Monsanto and agricultural seeds and chemicals rival Syngenta, saying a combination of the market leaders would spell fewer and higher-priced products. Coalitions of opponents are being formed and market analyses being done, moves that underscore the hurdles […] Read more
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