Monsanto confirmed on Wednesday that it is working toward acquiring Syngenta, and its plans includes divesting all of Syngenta’s seeds and traits business, which had sales of $3.2 billion in 2014, to gain antitrust approval. Earlier this month Syngenta rejected a bid from Monsanto that valued it at just over $45 billion, but left the door open for further talks, which Monsanto confirms are continuing. The acquisition would combine the world's number one and number three seeds producers to create an agricultural giant with sales of $31 billion. Speaking to investors in New York, Monsanto’s president and COO Brett Begemann outlined Monsanto’s vision and rationale for the Syngenta proposal, which could lead to the creation of a new company that pursues a “truly integrated solution strategy—redefining the future of agriculture.”
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