- Monsanto (NYSE:MON-OLD -0.9%) elaborates on its proposed acquisition of Syngenta (SYT +2.3%), saying it is committed to divesting SYT's entire seed business to win regulatory approval for a merger.
- The deal also would include the sale of some overlapping chemical operations, MON says in a statement ahead of an investor presentation by COO Brett Begemann.
- MON says the combination of the two companies would create substantial cost savings, enhance research and development, and offer farmers a more diverse range of products and services.
- For its part, SYT reiterates that MON's proposal "fundamentally undervalues" its prospects and pipeline, and that MON's latest assurances were already considered and rejected by SYT's board.