Arab Today, arab today switzerlands syngenta rejects takeover bid by monsanto
Last Updated : GMT 09:39:26
Arab Today, arab today
Arab Today, arab today

Switzerland's Syngenta rejects takeover bid by Monsanto

Arab Today, arab today

Arab Today, arab today Switzerland's Syngenta rejects takeover bid by Monsanto

Swiss farm chemicals powerhouse Syngenta
Geneva - AFP

Swiss farm chemicals powerhouse Syngenta said Friday it had rejected a takeover bid by US seed giant Monsanto, arguing its offer was too low.

In a statement, Syngenta confirmed April reports that Monsanto had made an offer for a merger that would have formed a world market leader in both seeds and crop chemicals.

"The board of Syngenta confirms that it has received an unsolicited proposal from Monsanto to acquire the company at a price of 449 Swiss francs ($486) per Syngenta share with approximately 45 percent in cash," said the statement.

"The offer fundamentally undervalues Syngenta's prospects and underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries," it said.

Syngenta shares soared after the news on the Swiss stock exchange, rising to 381.90 Swiss francs at 9:28 am (0728 GMT)  -- a 14.7 percent rise over Thursday's close.

The US firm had timed the offer with a slackening in Syngenta's performance but the Swiss company's chief said the business outlook was good.

"Syngenta is the world leader in crop protection, the number three in seeds and the first company to introduce integrated solutions for growers. Monsanto's proposal does not reflect the outstanding growth prospects of Syngenta’s integrated strategy," chairman Michel Demare said.

"While Syngenta’s valuation is currently affected by short term currency and commodity price movements, the business outlook is strong, with emerging markets accounting for over 50 percent of our sales," he added.

Rumours of a possible merger between the two giants also surfaced nearly a year ago, in June 2014, but nothing came of them.

Syngenta was formed in 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals.

arabstoday
arabstoday

GMT 21:21 2017 Thursday ,19 October

Shaikh Nasser praises BIDEC 2017 royal patronage

GMT 20:39 2017 Thursday ,19 October

Tesla fired hundreds of employees in past week

GMT 13:46 2017 Thursday ,19 October

Samsung's revamped Bixby takes on Amazon Alexa

GMT 21:35 2017 Wednesday ,18 October

King congratulated by Premier on BIDEC success

GMT 21:27 2017 Wednesday ,18 October

Shaikh Nasser praises Derasat efforts

GMT 11:54 2017 Wednesday ,18 October

Airbnb rentals boom across Africa

GMT 18:06 2017 Tuesday ,17 October

Three companies offering to search for MH370

GMT 19:24 2017 Sunday ,15 October

Royal Jordanian eyes operating profit this year
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today switzerlands syngenta rejects takeover bid by monsanto Arab Today, arab today switzerlands syngenta rejects takeover bid by monsanto

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today switzerlands syngenta rejects takeover bid by monsanto Arab Today, arab today switzerlands syngenta rejects takeover bid by monsanto

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday