Rumours flew thick and the M&A world positively drooled at the prospect of this deal but alas, it was not to be. Word on the street was that GMO major Monsanto had tentatively approached Swiss insecticide maker Syngenta with an offer for a merger. The resulting seed and chemical behemoth would have had combined revenue of $30 billion. But Syngenta’s management swiftly rejected the $45-billion offer, saying it undervalued the company’s prospects. Syngenta managed sales of $15.1 billion in 2014 alone, and the company’s presence in 90 countries gives it an edge over Monsanto’s scantier 66-country reach. Monsanto was definitely the loser in this exchange, with the Syngenta stock rising 17% after its rejection.
Coming a cropper
Word on the street was that GMO major Monsanto had tentatively approached Syngenta for a merger