DJ Syngenta Says Investors Back Its Stance on Monsanto -- Market Talk
15:25 EDT - After a week and a half of investor meetings in Europe and US, Swiss pesticide and seed maker Syngenta (SYNN.VX, SYT) says its shareholders are on management's side regarding the roughly $45B takeover approach from rival Monsanto (MON). Syngenta says in a statement today that "it's clear from these conversations that the Monsanto proposal is wholly unacceptable" both in terms of valuation and regulatory risk. Syngenta's statement, citing talks with more than 100 investors, comes after a Sanford Bernstein survey published today showed massive investor support for Syngenta to open formal talks with Monsanto.