Syngenta Rejects Offer From Monsanto - Quick Facts

(RTTNews) - Noting media reports, Swiss crop chemicals firm Syngenta AG (SYT) Friday confirmed that it has received an unsolicited proposal from Monsanto Co. (MON) to acquire the company at a price of 449 Swiss francs per Syngenta share with around 45 percent in cash.

Syngenta's Board of Directors, in conjunction with its legal and financial advisers, has undertaken a thorough review of all aspects of Monsanto's offer and has unanimously determined to reject Monsanto's proposal as it is not in the best interests of Syngenta, its shareholders and its stakeholders.

According to the company, the offer fundamentally undervalues Syngenta's prospects and underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries.

Michel Demaré, Syngenta Chairman said, "Syngenta is the world leader in Crop Protection, the number three in Seeds and the first company to introduce integrated solutions for growers. Monsanto's proposal does not reflect the outstanding growth prospects of Syngenta's integrated strategy and the significant future value potential of the company's crop-focused innovation and market leading positions."