In an attempt to appease acquisition target Syngenta AG, Creve Coeur-based seed giant Monsanto Co. has expressed willingness to change its name and relocate its legal headquarters overseas, according to documents released Monday.
Syngenta, a Swiss company that makes agricultural chemicals, on Monday rejected a $45 billion takeover bid by Monsanto for the second time in two months. That prompted Monsanto to release letters offering insights into the negotiations.
In a letter dated April 18, Monsanto Chairman Hugh Grant proposes that the two companies merge under a new parent company, which would take on a new name and make its legal headquarters in the United Kingdom.
U.S. companies moving corporate headquarters overseas, also known as tax inversion, has increased in popularity recently as companies look to reduce their tax burden.