Syngenta turned down Monsanto again

The leading agrochemicals company Monsanto increased its offer again for Swiss rival Syngenta. The company is reported to have raised its bid to around 46 billion USD. The break-up fee, payable should the deal fail to receive regulatory approval, was also increased from $2 billion to $3 billion.

Monsanto's new offer has been pitched at 470 Swiss francs per share in cash and stock, up from an earlier 449 Swiss francs per share, Syngenta turned down Monsanto’s previous offers in April and May, both of which valued its shares at 449 Swiss francs. Reports say Syngenta is expected to reject this third bid too as the offer remains well below what it regards as fair value. (portfolio.hu)