Syngenta Rejects Monsanto Acquisition Offer

Monsanto confirmed it made a private proposal to Syngenta to acquire its rival for $45 billion, which the Switzerland-based company rejected.

A Syngenta press release said its board of directors came to a unanimous decision to reject the proposal, explaining that it “fundamentally undervalues Syngenta’s prospects and underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries.”

According to Reuters, Monsanto now plans to divest Syngenta’s seed and genetic traits businesses, as well as some overlapping chemistry assets, to win regulatory approval for takeover of the company.

Monsanto president Brett Begemann said Monsanto is confident it can address all regulatory concerns about the potential merger, but Syngenta disagrees that a sell-off of its seed business would appease regulators, Reuters says.

IN OTHER NO-TILL NEWS…

  • The Andersons announced the purchase of Kay Flo Industries, whose Nutra-Flo division manufacturers premium liquid starter fertilizers and micronutrient enriched plant nutrients.
  • USDA announced $21 million in funds available for sustainable farming practices to growers in California, Kansas, Idaho, Nevada, Oklahoma, Oregon, Texas and Utah to mitigate impacts of drought. The agency is also investing $6.5 million in the Ogallala Aquifer region in the Great Plains to help farmers conserve water.
  • Helena Chemical Co. introduced Liquid Chisel, a blend of soil-conditioning agents and potash that improves soil tilth by increasing the solubility of calcium and magnesium salts, which moves them away from plant roots.
  • Bayer CropScience opened its Beaver Crossing Breeding and Trait Development Station near Lincoln, Neb…
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