Monsanto increases Syngenta bid to $47 billion

Photo courtesy of Reuters
Photo courtesy of Reuters

Monsanto has made an increased acquisition offer to Syngenta AG, seeking to draw the Swiss pesticide producer to the negotiating table after its earlier approach was rejected.

The recent offer values Syngenta at about 470 Swiss francs per share in cash and stock, compared with the 449 francs the U.S. firm offered earlier this year.

Syngenta’s stock jumped 7.5 percent to 384.4 francs at 9:06 a.m. in Zurich on Tuesday, giving the company a market value equal to $38 billion.

The proposed break fee to be paid by Monsanto should antitrust regulators block the deal has also risen, increasing to $3 billion from the $2 billion previously promised, one of the people said. Syngenta’s board is scheduled to meet as soon as Tuesday to decide on how to respond to the increased offer.

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