Monsanto is weighing whether to launch another attempt to take over Swiss agrochemicals giant Syngenta, after the Swiss company snubbed an offer from a Chinese group, the Bloomberg financial news agency reported on Wednesday.
Syngenta turned down a $47-billion bid from Monsanto in August and has reportedly backed away from a $41.6-billion offer from China National Chemical (ChemChina).
Syngenta and ChemChina were said to still be in talks, but Monsanto’s chief operating officer Brett Begemann told reporters that the failure of those two sides to strike a deal had spurred Monsanto to rethink another offer.
“If you are asking me are we having conversations inside of Monsanto, well of course we are,” Bloomberg quoted Begemann as saying.
Source: The Local Switzerland
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.