Seed World

Monsanto Expected to Approach BASF in Bid for Syngenta Takeover

Reuters is reporting that Monsanto “is trying to line up buyers for assets worth up to $8 billion to appease competition authorities before making a fresh takeover approach for Swiss Syngenta, possibly within three weeks,” according to industry sources.
According to the report, Monsanto is expected to approach German chemicals group BASF, already one of its joint venture partners, as it looks for a buyer for Syngenta’s U.S. seeds business.
Monsanto confirmed last week that is recently approached Syngenta with a takeover offer. In a statement, Syngenta said it rejects the proposal because “it is not in the best interests of Syngenta, its shareholders and its stakeholders.”
Monsanto believes the combined company would be “uniquely positioned to deliver a comprehensive suite of integrated solutions to farmers around the world and to accelerate technological innovation through precision agriculture and advanced research and development capabilities aimed at increasing the world`s food supply in a sustainable fashion.”
The Reuters story is available here: