Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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To: richardred who wrote (3928)	5/13/2015 9:31:21 AM
From: richardred	of 7253

Analysts speculate on higher bid for Syngenta Swiss farm chemical giant Syngenta saw higher share prices May 11 on speculation of a more lucrative takeover bid from U.S.-based Monsanto. Swiss English news service The Local reported European analysts thought another bid from Monsanto may be imminent. On May 8, Syngenta’s website reported that the company received an unsolicited proposal from Monsanto to acquire the company at a price of $486 per Syngenta share with approximately 45% in cash. Syngenta’s board of directors rejected the Monsanto bid, saying in a statement that the offer “fundamentally undervalues Syngenta’s prospects and underestimates the significant execution risks.” “Syngenta is the world leader in Crop Protection, the number three in Seeds and the first company to introduce integrated solutions for growers,” Michel Demaré, Syngenta Chairman said in the statement. “Monsanto’s proposal does not reflect the outstanding growth prospects of Syngenta’s integrated strategy and the significant future value potential of the company’s crop-focused innovation and market leading positions.” Monsanto acknowledged its interest in Syngenta on May 8 but said on its website it would have no further comment on its offer. Syngenta’s shares on the Swiss stock exchange rose 19.3% on May 8 and were up less than 2% in trading on May 11. Syngenta was formed in 2000 from the merger of Novartis and Zeneca Ag Products and offers an extensive line of vegetable seeds to U.S. growers. thepacker.com

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