Syngenta is apparently being courted by ChemChina - Shares lay
Basel (AWP) - Just two and a half months after the canceled acquisition of Syngenta through the US competitor Monsanto's agrochemical company sources said the fall in the crosshairs of a purchase consent competitor again. According to the news agency Bloomberg said to have signaled their interest in the Chinese chemical company ChemChina. On the stock market, the share price of Syngenta responded promptly with significant impacts.
ChemChina have put in discussions an offer of 449 CHF per share on the table, Bloomberg reported on Thursday, citing people familiar with the matter. The Basel but had rejected with reference to regulatory risks. The offer price represents a premium of nearly 30% to the closing price of the Syngenta share on Thursday. Syngenta would be assessed with around CHF 41.7 billion.
TALKS CONTINUE RUNNING
Unlike the ruptured Monsanto Deal Syngenta has opened the door for ChemChina but apparently not completely slammed. The talks between Syngenta and the Chinese continued despite the rejection of the offer. An agreement could be achieved in the coming weeks, according to Bloomberg. Syngenta also speak with other interested parties. However, the negotiations could also fail and Syngenta opt for independence.
With acquisition of the state-owned ChemChina Syngenta, one of the largest chemical companies in the People's Republic, not only make the largest acquisition of a Chinese company in Europe, but also usher in a paradigm shift would. Because ChemChina is the daughter Adama now operates only as a manufacturer of generic agrochemicals. Whose patent protection has expired So as a producer of imitators for products.
Many applicants
The courting of Syngenta had unleashed industry leader Monsanto. In the summer of 2014, the Americans were approaching with a first proposal and gave after an obstinate Advertise until this summer (time being) on. Monsanto justified this with the unbroken resistance of the Swiss. The offer of the Americans have underestimated the value of the company in a significant way, Syngenta had defended its stance. Monsanto had as ChemChina per share 449 CHF commanded, however, of which 55% in shares and not in cash.
Thereafter, the M & A speculation went into the next round. This even more so after Dow Chemical announced to consider a sale of its seed and crop protection business. Even brought the "Wall Street Journal" Syngenta a week ago along with the US group DuPont. And now to be interested in as Basel also ChemChina.
Shareholders' association URGES THOROUGH EXAMINATION
On Friday announced the "critical association Syngenta shareholders" to speak out and reiterated their displeasure with the corporate strategy of the Basel agrochemical Nehms air. She asks the Board that it honors its obligations and receive calls with ChemChina. Offers rejected without having examined this thoroughly and impartially, was "unacceptable".
On the stock market the new takeover rumors have meanwhile captured the Syngenta shares: On Friday morning the tracks were in an otherwise weak market to temporarily more than 10% higher. In the afternoon climb Syngenta still by 7.0% to 370 CHF in height, whereas the overall market (SMI) loses 0.84%.
Helvea expert Markus Mayer may not quite believe the speculation principle. The fact that now ChemChina held Monsanto was the bidder, the situation does not change. Because, according to Mayer, the Monsanto-offer was rejected because of political interests - and not as Syngenta postulated due to antitrust risks.