U.S. agrochemicals firm Monsanto Co has offered to pay a $2 billion reverse break-up fee to Syngenta AG if it cannot obtain global regulatory approvals for an acquisition, it said in a statement on Sunday.
The move, under which Monsanto would pay the fee if regulators reject the proposal, is the latest step in a bid by the world's largest seed company to take over its Swiss rival. Syngenta had earlier rejected a $45 billion offer, but St. Louis-based Monsanto has continued to pursue a deal.
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