BASF said to be mulling bid for Syngenta

German chemicals group BASF SE is reportedly mulling an offer for Swiss rival Syngenta, potentially putting itself forward as a rival to Monsanto.

BASF is speaking to investment bankers about the possibility of an offer for Syngenta, though it has made no decision and it’s possible a bid may not materialise, Reuters cited people familiar with the matter as saying.

On Tuesday, it was reported that lawyers for Monsanto and Syngenta were quietly working together to discuss regulatory hurdles that would arise from the potential combination of the two companies.

At 0950 BST, Syngenta shares were up 1.4% at CHF427.50.