Talk is getting hotter about the potential bid for Syngenta AG SYT by Monsanto Co. MON.
The two companies have hired investment banks to evaluate a possible deal, Reuters reported Thursday, although neither company commented.
http://uk.reuters.com/article/2015/05/07/us-syngenta-m-a-monsanto-idUKKBN0NS2AF20150507
Syngenta closed up Thursday 6 percent at $77; Monsanto rose more than 2 percent, closing at $119.13.
A rumor emerged April 30 that Monsanto had approached the Swiss-based seed and crop chemicals maker, about a year after earlier talks fell apart on antitrust concerns.
http://www.bloomberg.com/news/articles/2015-04-30/monsanto-is-said-to-approach-syngenta-again-about-a-takeover
For a viable deal, Syngenta would need divest its U.S. corn and soybean businesses, an unidentified source told Reuters Thursday.
Potential bidders for all or parts of Syngenta include BASF SE BFFAF and Dow Chemical Co. DOW as well as privately held China National Chemical Corp., according to Reuters.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in