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Monsanto drops $46 billion bid for Syngenta

Staff writer |
Monsanto said it will continue to focus on its growth opportunities built on its existing core business and is no longer pursuing current proposal for Syngenta combination.

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Monsanto continues to believe a combination with Syngenta would have created tremendous value for shareowners of both companies and farmers.

Monsanto management today confirmed its confidence in delivering its five-year plan to more than double fiscal-year 2014 ongoing earnings per share by 2019.

Michel Demaré, Chairman of Syngenta, said: "We engaged with Monsanto in good faith and highlighted those key issues which required more concrete information in order to continue a dialogue. We take note of Monsanto's decision.

"Our Board is confident that Syngenta's long-term prospects remain very attractive with a leading portfolio and a promising pipeline of new products and technologies. We are committed to accelerate shareholder value creation." â– 

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