A Monsanto spokeswoman has confirmed to Reuters that the $2-billion breakup fee offered to Syngenta if antitrust regulators blocks US firm’s proposed acquisition would apply to any antitrust concerns “horizontal,” “vertical,” and “conglomerate.” The statement responds to claims by Syngenta’s management, made initially at a private meeting with analysts and then confirmed by Syngenta to the news agency, that it believed the fee would apply only for a block for horizontal reasons. Analysts at Bernstein Research and Bank of America Merrill Lynch in separate research notes last week report Syngenta's top management saying during a dinner with analysts in London that Syngenta shareholders would bear the risk of a deal getting blocked for nonhorizontal antitrust reasons.
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