Wednesday, August 26, 2015

Monsanto drops bid to buy Syngenta


Monsanto has given up on its desire to buy Syngenta.

It offered $47 billion, but Syngenta’s shareholders wanted more.

Had the takeover succeeded, Monsanto would have sold Syngenta’s seed business because adding that would have been too much market share.

Dow AgroSciences said it would make an offer to buy the seed business, but that was conditional on Monsanto succeeding.