Syngenta Eyes Asset Opportunities From Dow/Dupont Merger

February 8, 2017 10:18 AM
 
 

Syngenta AG, which sees its $43 billion takeover by China National Chemical Corp. closing by the end of June, said it’s open to pursuing assets that might become available as a result of antitrust reviews of other mega deals in the agricultural industry.

There could be attractive seed acquisition opportunities stemming from the merger of Dow Chemical Co. and DuPont Co. or the combination of Bayer AG and Monsanto Co., according to Syngenta Chief Executive Officer Erik Fyrwald, who was speaking at a conference in Basel, Switzerland, on Wednesday. On top of that, “there are many, many seed companies around the world” that may be looking for a buyer, he said.

While Syngenta is soon likely to be under new ownership, Chairman Michel Demare was instrumental in negotiating a degree of independence from ChemChina with a view to keep the Swiss maker of pesticides and genetically modified seeds intact. The door to re-listing the company after the deal closes has been left open, Fyrwald said.

The CEO is one of many chemical industry executives awaiting the outcome of regulatory reviews of proposed mergers, while competitors are also monitoring the process of Syngenta’s own takeover. Concerned that the combination might raise prices or reduce choice for crop-protection products sold to farmers, regulators have requested more information from the companies, pushing back the expected closing date for what would be China’s largest foreign acquisition.

The transaction has been approved by 13 authorities around the world, and progress has been made on getting nods from Brazil, the U.S. and the European Union.

Earlier, Syngenta reported fourth-quarter earnings per share that declined 4 percent to $17.03, while revenue slipped 5 percent to $12.79 billion. Analysts in a Bloomberg survey predicted $16.4 per share, from $12.9 billion in sales.

Back to news


Million Dollar Wildfire Relief Challenge

Click here to learn more about the Million Dollar Wildfire Relief Challenge, and see how you can help in the rebuilding effort.


 

RELATED CONTENT

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by Barchart.com
brought-by
Close