Syngenta reportedly building defenses against another Monsanto bid
Agrochemical maker Syngenta AG is building up defenses as it prepares for a possible higher bid from US rival Monsanto Co., according to press reports.
Monsanto Co.
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16:05 15/10/24
Syngenta has added UBS Group AG to its stable of advisers to speak with investors and monitor changes in shareholdings, according to Bloomberg. It cited people close to the situation as saying that Syngenta expects Monsanto to return with a bid that tops the unsuccessful CHF449 a share offer as soon as next week.
Monsanto has to weigh whether it makes financial sense to up its offer amid volatile agricultural cycles that affect crop prices and demand for Syngenta’s range of cropcare chemicals.
Syngenta, which snubbed Monsanto’s proposal because it deemed the offer too low and the execution risk too high, may be willing to consider an offer of CHF500 or more, sources told Bloomberg.