- Monsanto (MON +1.7%) is trying to line up buyers for assets worth up to $8B to appease regulators before making a new takeover approach for Syngenta (SYT +1.7%), possibly within three weeks, Reuters reports, citing industry sources.
- MON reportedly will tap Germany's BASF (OTCQX:BASFY, OTCQX:BFFAF), an existing joint venture partner, as it seeks a buyer for SYT's U.S. seeds business, which cannot be part of its proposed takeover.
- SYT's seeds business could be worth $6B-$8B, and likely would need to be sold because authorities are expected to block MON from adding to its dominance of the U.S. soy and corn seeds market.