Report Syngenta AG Could See Fresh Bid In 3 Weeks

Syngenta AG (NYSE: SYT) ticked up 2 percent after a report surfaced that Monsanto Co. (NYSE: MON) is preparing to sweeten its bid for the Swiss-based seed and farm chemicals maker.http://ca.reuters.com/article/businessNews/idCAKBN0NZ23W20150514?sp=trueTo make a deal viable to regulators, Monsanto is seeking prospective buyers for Syngenta's seed business.Syngenta last week rejected Monsanto's acquisition offer of $490 a share in cash and stock. Monsanto's offer undervalued the company and "underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries," Syngenta said.A fresh bid from Monsanto is expected in about three weeks, according to Reuters.Monsanto controls about a quarter of the world market for seeds, versus about 8 percent for Syngenta, according to the report. Both companies have annual revenue in the range of $15 billion, but Monsanto gets it mostly from chemicals, while Syngenta's derives mainly from seeds.Syngenta's seed business could be worth up to $8 billion, according to the report, although Monsanto so far hasn't succeeded in locating a committed buyer.Potential bidders include BASF SE (OTC: BASFY), Bayer AG (OTC: BAYRY) and the privately held China National Chemical Corp., according to Reuters.Also mentioned: Midland, Michigan-based Dow Chemical Co. (NYSE: DOW).Syngenta shares are up about 34 percent since late April and closed Thursday at $89.70, up $2.16.