- Monsanto (NYSE:MON-OLD +6.5%) says it is no longer pursuing a combination with Syngenta (SYT -15%) after a new bid was rebuffed; shares resume trading after a halt.
- MON says SYT has told it that the company's enhanced proposal did not meet expectations, thus it will continue to focus on growth opportunities built on its existing core business.
- MON says its latest proposal increased the cash component of the proposed takeover to 245 Swiss francs/share and maintained the same number of shares as in its April proposal; the revised proposal translated to a value of 470 Swiss francs/share.