Monsanto continues to seek constructive talks with Syngenta, would not rule out price increase
Monsanto, the US agri-group, is continuing to seek constructive talks with Swiss rival Syngenta, Schweiz am Sonntag reported.
Monsanto communications chief Sara Miller made this statement to the Swiss weekly and added Syngenta has not taken up Monsanto's offer to rethink the offer price if Syngenta allows it a look into the books.
Miller said the reaction of Syngenta shareholders on a recent road show is encouraging as it indicated many shareholders would support the offer. Monsanto has offered CHF 449 per Syngenta share which is currently trading at CHF 401.90, the report noted.
The report also cited Credit-Suisse analyst Lorenzo Biasio, who has spoken to Monsanto, and who advises many shareholders, said many shareholders are prepared to accept the CHF 449 per share offer, while Zuercher Kantonalbank's Martin Schreiber estimated Monsanto would gain around 50% acceptances at the current offer price.
Both Biasio and Schreiber think it likely that Monsanto makes the offer official, the report stated.
Schweiz am Sonntag