Monsanto gives up trying to buy Syngenta

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ST. LOUIS — The Monsanto Company has been rebuffed in its efforts to take over Syngenta, as its latest “enhanced proposal did not meet Syngenta’s financial expectations.”

According to a company news release issued Aug. 26, Monsanto confirmed it communicated a revised proposal Aug. 18 to Syngenta to combine the two companies. Earlier Monsanto efforts were rejected in June, as was this latest offer.

Although it said joining with Syngenta would have had “tremendous value” for shareholders, Monsanto said it will continue to focus on growth opportunities from its existing business in breeding, biotechnology, data science and next-generation biologicals.

In addition, Monsanto management confirmed its confidence in delivering its five-year plan to more than double fiscal-year 2014 ongoing earnings per share by 2019.

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