Monsanto to Syngenta: We can get all regulatory approvals
Monsanto has long respected and followed Syngenta's business.
"The proposal contemplates consideration of approximately 45% cash and would provide Syngenta shareholders with a very attractive premium and significant further value creation through ongoing ownership in the combined company," Monsanto said.
"Monsanto has long respected and followed Syngenta's business and believes combining the two companies would deliver significant value to all stakeholders, including shareholders.
"Creating a new company from the combination of Syngenta's strengths and leadership in crop protection chemicals and Monsanto's leadership in seeds, traits and information technology would form an integrated global leader in agriculture with comprehensive and complementary product portfolios, and an Ag-focused organization with enhanced abilities to develop and accelerate innovative solutions for growers.
"Monsanto believes the combined company would be uniquely positioned to deliver a comprehensive suite of integrated solutions to farmers around the world and to accelerate technological innovation through precision agriculture and advanced research and development capabilities aimed at increasing the world's food supply in a sustainable fashion.
"Monsanto believes a combination would deliver significant value to shareholders of both companies. The combination is expected to result in substantial synergies as the company delivers more integrated solutions to customers.
"Monsanto, in conjunction with its financial and legal advisors, has devoted significant time and resources to analyzing a potential combination of Syngenta and Monsanto and is confident in its ability to obtain all necessary regulatory approvals," the company said in its reponse. ■