Syngenta has rejected Monsanto‘s merger proposal… again. The American colossus made an offer that Syngenta declined, as the Swiss crop developer considered that Monsanto’s €40Bn bid (CHF 41.7 billion) simply was not enough.
The gossip started last week as Monsanto may have done a second attempt to buy Swiss Syngenta. Turns out, the rumors were true, but the negotiations lead to nothing. According to Syngenta, the offer fundamentally undervalues the company’s prospects and underestimates the significant execution risks.
Michel Demaré, Syngenta Chairman said, “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 and the significant future value potential of the company’s crop-focused innovation and market leading positions“.
Besides, the Board of Syngenta is not the only one reluctant to this unsolicited proposal, as green activists on both sides of the Atlantic Ocean raised their voices against this potential merger.