Friday, May 22, 2015

Monsanto promises to sell Syngenta seeds, technologies

Monsanto is promising to sell Syngenta’s seed business and related technologies if it succeeds in its efforts to buy the Swiss company.

Monsanto is already the world’s largest seed company.

“We intend to make this a really clean deal… really easy to get done,” Monsanto president Brett Begemann said in a presentation to investors.

He said U.S.-based Monsanto is confident it can address all regulatory concerns about a combination of the agrichemical and seed giants.

Syngenta already has rejected a $45 billion US offer, but Monsanto is still trying to make the purchase.

“We made an offer,” said Begemann. “They rejected that offer, we continue to talk and we’ll continue to talk with them and see where we move this along to.”

He said if Syngenta continues to reject an offer, Monsanto is “not precluded from developing relationships with other chemical suppliers.”