Monsanto pulls bid for Syngenta

Aug 26, 2015
St. Louis Public Radio

The St. Louis-based seed giant announced Wednesday its offer to buy Swiss pesticide producer Syngenta is off the table.

While Monsanto continued to argue the merger would have "created value" for shareholders of both companies, it said in a statement the most recent offer did not meet Syngenta’s financial expectations.

St. Louis Public Radio

Updated at 12:30 pm June 24, 2015 with comments from Monsanto CEO Hugh Grant

The chief executive officer of St. Louis-based Monsanto says the company is still committed to putting together a deal to acquire a European agricultural chemical manufacturer.

Interest in Syngenta remains high, but Hugh Grant has told analysts on Wednesday that Monsanto is keeping options option in case a deal is not reached.

"This isn’t something we’re gonna turn into an epic struggle," he stated during the company's quarterly earnings conference call.

Our previous story from June 23, 2015:

The chairman of Syngenta is laying out the general terms for any possible acquisition by St. Louis-based Monsanto.

Microbiologist Mary-Dell Chilton works in her lab at Syngenta.

Mary-Dell Chilton pioneered the field of genetic engineering in agriculture.

She has spent most of her decades-long career working for Syngenta, where she founded the agribusiness company's research on genetically modified seeds.

But Chilton started out in academia. And it was here in St. Louis, at Washington University, that she led the team that created the first genetically-modified plants in the early 1980s.

(via Flickr/Rocpoc)

A federal judge in southern Illinois has given preliminary approval to a $105 million settlement between Syngenta and community water systems in six states over one of the chemical maker's popular agricultural herbicides.

U.S. District Judge J. Phil Gilbert on Wednesday ruled that the deal announced last week appears to be "a good compromised result for the parties."