Monsanto: Syngenta Deal Won’t Completely Take Out Competition
July 13, 2015 Monsanto President Brett Begemann last Thursday told U.S. soybean growers that if it buys Syngenta, the combined company would be run out of the United States and enough Syngenta operations would be shed to ensure continued market competition for seeds and chemicals, according to a report on Reuters.com from reporter Carey Gillam.
“There will be good competition. Whatever choice was available before the transaction, if there is one, will be available after the transaction,” Begemann said in a presentation to the United Soybean Board (USB) in Des Moines, IA.
Begemann’s appearance at the United Soybean Board meeting in Des Moines, IA, is one of a series of presentations he and Monsanto Chairman Hugh Grant are making to shareholders and farmer groups in Europe and the United States to solicit support for the company’s $45 billion offer for Swiss-based Syngenta AG. Grant has even offered to change the Monsanto name from the merged entity as he woos Syngenta shareholders.
Monsanto is the world’s largest seed company and the maker of Roundup herbicide. Syngenta is also a large seed company and a global leader in the agrichemical/crop protection market.
Read Gillam’s full report on Reuters.com here.
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