Syngenta says Monsanto's offer is not seriousStaff writer ▼ | June 23, 2015
Syngenta's chairman said any takeover offer needed to be at a fair price and provide a high degree of certainty that it will clear regulatory hurdles and he reaffirmed the opposition to Monsanto's current proposal.
No acquisition Syngenta has some regulatory concerns
Syngenta Chairman Michel Demare said the company would consider future proposals but only if they fulfilled certain requirements.
"A serious proposal to buy Syngenta has to be made at full and fair value," Demare said in a video on the company's YouTube channel.
"It has to recognize for shareholders the inherent combination benefits. And it has to provide a high degree of certainty that the transaction will be closed, including compensation in case the deal fails."
Demare said Monsanto was trying to buy Syngenta "on the cheap" and that the board had unanimously rejected the initial approach. ■