Syngenta Moves to Calm Disappointed Shareholders
September 03 2015 - 2:30AM
Dow Jones News
ZURICH—Syngenta AG on Thursday moved to appease shareholders
angered by its rejection of a takeover from Monsanto Co., saying it
will divest its global vegetables seeds business and return more
than $2 billion to shareholders.
The world's top seller of pesticides last month rejected
Monsanto's sweetened takeover offer, saying the price was too low
and would face still resistance from regulators.
In a statement Thursday Basel-based Syngenta said it plans to
"accelerate shareholder value creation" including the sale of its
global high-margin vegetables seeds business, which "should attract
significant third-party interest." Its share repurchase program of
more than $2 billion will begin in coming weeks.
Write to Neil MacLucas at neil.maclucas@wsj.com
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(END) Dow Jones Newswires
September 03, 2015 02:15 ET (06:15 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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