DJ Syngenta Investors Deepen Critique of Board -- Market Talk
8:35 ET - Group of Syngenta (SYT, SYNN.VX) shareholders say confidence in the Swiss pesticide giant's board has eroded, releasing a survey that the group claims shows nearly 100% of investors they polled, who group says represent about 10% of all Syngenta shares, support changing the board at the upcoming annual meeting. About 80% want a formal auction to sell the company, Alliance of Critical Syngenta Shareholders says, after the board angered some investors by refusing to formally entertain a $46B takeover proposal from Monsanto (MON) last summer. "Given the lack of support for the Board of Directors and the company's strategy, shareholders believe that major changes are needed," says group, whose survey also went to some sell-side analysts. Syngenta spokesman has no immediate comment.