Syngenta rebuffs second, unchanged Monsanto approach with a breakup fee

摘要

Syngenta has rebuffed a second, virtually unchanged takeover approach by Monsanto. The latest proposals, outlined by Monsanto’s CEO Hugh Grant in a letter sent on 6 June, are essentially the same as those made privately by the US company in a letter of 18 April—449 Swiss francs ($479.53)/Syngenta share, valuing the company at SF417.3 billion—but with the addition of a $2-billion breakup fee payable to Syngenta if the deal cannot be consummated for antitrust reasons within 18 months. Grant’s letter, however, holds out the prospect of a higher offer if Syngenta were to engage with Monsanto in negotiations.