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Monsanto drops $46 billion bid for Syngenta

Staff writer ▼ | August 26, 2015
Monsanto said it will continue to focus on its growth opportunities built on its existing core business and is no longer pursuing current proposal for Syngenta combination.
No acquisition   Monsanto will continue to go alone
Monsanto continues to believe a combination with Syngenta would have created tremendous value for shareowners of both companies and farmers.

Monsanto management today confirmed its confidence in delivering its five-year plan to more than double fiscal-year 2014 ongoing earnings per share by 2019.

Michel Demaré, Chairman of Syngenta, said: "We engaged with Monsanto in good faith and highlighted those key issues which required more concrete information in order to continue a dialogue. We take note of Monsanto's decision.

"Our Board is confident that Syngenta's long-term prospects remain very attractive with a leading portfolio and a promising pipeline of new products and technologies. We are committed to accelerate shareholder value creation."