Monsanto Co. (MON) is considering whether to begin another attempt to acquire Syngenta AG (SYT) after state-owned China National Chemical Corp. made a bid for the world's largest pesticide maker, according media reports.
Monsanto is discussing internally the merits of a new offer as well as opportunities to acquire crop-chemical assets from other companies, Chief Operating Officer Brett Begemann reportedly said in St. Louis ahead of the company's investor day presentations.
In August, Agricultural products company Monsanto had said it abandoned efforts to buy Syngenta AG, citing recalcitrance on the part of the Swiss pesticide producer to its sweetened offer. Monsanto then raised its offer for Syngenta to 470 francs per share, or about $47 billion, from a prior offer in April of about $45 billion, but in vain.
Begemann today reportedly said that while Bayer AG isn't interested in selling its pesticide business, Monsanto could still pursue licensing deals with the German company.
On Thursday, Bloomberg reported that Syngenta rejected ChemChina's offer to buy the Swiss crop chemicals firm in a deal valued at about $42 billion, citing regulatory risk.
China National Chemical Corp, known as ChemChina, made an offer of about 449 Swiss francs per share, which would value Syngenta at about 41.7 billion francs or $42 billion, the report said quoting people familiar with the matter. While a deal isn't imminent, the two companies are still talking and an agreement could be reached in the next few weeks. Syngenta was also talking to other potential suitors as it explores options.
DuPont Co. and Dow Chemical Co. both reportedly said last month they are in discussions for deals on their respective agriculture units.
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