Creve Coeur-based seed giant Monsanto Co., which has been rejected twice by Syngenta AG in its bid to acquire the Swiss agrochemical company, may begin pursuing other partners.
Monsanto would approach Germany’s Bayer AG about its crop chemical business if it can’t work out a deal with Syngenta, Monsanto COO Brett Begemann said. Although Monsanto is committed to acquiring Syngenta, he said, “we won’t stay at it forever.”
Begemann’s statement is the latest in an escalating war of words between Monsanto and Syngenta, which has twice rebuffed $45 billion buyout bids. The latest bid, which Syngenta shot down earlier this month, included offers from Monsanto to change its name and relocate its legal headquarters overseas.