Syngenta bracing for new Monsanto bid as informal talks continue

Photo courtesy of Reuters
Photo courtesy of Reuters

After rejecting a $45 billion buyout bid from Monsanto Co., Swiss chemical maker Syngenta AG is said to be bracing for another acquisition offer from the Creve Coeur-based seed maker.

Syngenta expects Monsanto could return as soon as next week with an offer larger than its unsuccessful 449 franc-per-share offer, people with knowledge of the situation told Bloomberg. Syngenta deemed that offer too low, but the Swiss company may be willing to consider an offer of 500 francs per share or more.

Both Syngenta and Monsanto have enlisted the advisory services of major investment banks, and the rivals have continued to hold informal talks about a potential deal.

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