Monsanto offers to rebrand enlarged company as part of USD 45bn takeover bid for Syngenta
Monsanto CEO Hugh Grant said the listed St Louis, Missouri-based agribusiness has offered to rebrand the enlarged group as part of its USD 45bn (CHF 42.31bn) takeover offer for listed Switzerland-based crop chemical producer Syngenta.
Grant, quoted in an interview with The Sunday Times, said he would be glad to rebrand the company to secure the deal.
Monsanto made an informal approach to Syngenta in April this year, which the Swiss group rejected, the item noted.
Grant visited Europe last week in an attempt to secure support from Syngenta shareholders and to force the company into negotiations, the item said. Grant said he had received an “encouraging” reception, according to the report.
Separately, Grant dismissed concerns about the risk of competition regulators derailing the deal as “overblown,” the article continued.
The newspaper’s Agenda column commented that Grant is likely to improve Monsanto’s CHF 449 (USD 477) per share offer for Syngenta.
Syngenta’s share price closed CHF 2.6 up at CHF 399.5 on Friday, 3 July, giving the company a market capitalisation of CHF 37.13bn.