Monsanto, Syngenta Deal Likelihood Is Less Than 60/40: Bernstein
2015-06-23 09:33:19.942 GMT
By Chiara Remondini
(Bloomberg) -- Bernstein comments in note on possibility of
deal closing after Syngenta’s remarks earlier today.
* Bernstein (market perform on Syngenta) says Syngenta seems
to be asking for “significantly” higher offer, higher
breakup fee
*
* Says this isn’t impossible, notes co. keeps referring to
“complex, vertical” antitrust issues which reduce
likelihood of a deal
* May be using antitrust issues as “defence mechanism”
* Vontobel (buy on Syngenta): Syngenta reconfirms previous
position
*
* Overall situation unchanged, next move up to Monsanto
* A deal remains “more likely to happen than not”
* Syngenta shares rise as much as 1.8%, volume at 20% of 3-
month daily avg
* Earlier: Monsanto offer undervalues Syngenta significantly,
Syngenta board is committed to review new proposals to come,
Chairman Demare says in video
* NOTE June 20: Syngenta Managers to Address Shareholders Amid
Discontent: FuW
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To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Jurjen van de Pol
2015-06-23 09:33:19.942 GMT
By Chiara Remondini
(Bloomberg) -- Bernstein comments in note on possibility of
deal closing after Syngenta’s remarks earlier today.
* Bernstein (market perform on Syngenta) says Syngenta seems
to be asking for “significantly” higher offer, higher
breakup fee
*
* Says this isn’t impossible, notes co. keeps referring to
“complex, vertical” antitrust issues which reduce
likelihood of a deal
* May be using antitrust issues as “defence mechanism”
* Vontobel (buy on Syngenta): Syngenta reconfirms previous
position
*
* Overall situation unchanged, next move up to Monsanto
* A deal remains “more likely to happen than not”
* Syngenta shares rise as much as 1.8%, volume at 20% of 3-
month daily avg
* Earlier: Monsanto offer undervalues Syngenta significantly,
Syngenta board is committed to review new proposals to come,
Chairman Demare says in video
* NOTE June 20: Syngenta Managers to Address Shareholders Amid
Discontent: FuW
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Jurjen van de Pol