Bernstein Upgrades Syngenta (SYT) to Market Perform

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Go back to Bernstein Upgrades Syngenta (SYT) to Market Perform

Syngenta Statement on Unsolicited Preliminary Approach from Monsanto

May 8, 2015 2:25 AM EDT

BASEL, Switzerland, May 8, 2015 /PRNewswire/ --

Noting media reports, the Board of Syngenta confirms that it has received an unsolicited proposal from Monsanto to acquire the company at a price of CHF449 per Syngenta share with approximately 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. The offer fundamentally undervalues Syngenta's prospects and underestimates the significant... More