Agribusiness leader Monsanto has abandoned their pursuit of Swiss rival Syngenta AG, after the latter’s rejection of a $47 billion offer.

According to Carey Gillam reporting on Reuters.com, Syngenta’s board unanimously rejected the offer, which it said "significantly undervalued the company." Monsanto, the world's largest seed company, said it still believes in the value of a combination. It will focus on building its core business and meeting long-term growth objectives and also said it was resuming a share buyback program. Read more on Reuters.com


Join the discussion...

You must be logged in as a CAAR member to comment.