Switzerland's Syngenta Rejects Monsanto Takeover Offer

May 8, 2015 9:13 AM

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Swiss biotechnology company Syngenta said Friday that it has rejected a takeover offer from Monsanto Co., a bid that it said greatly undervalued its prospects. Syngenta's shares jumped 17 percent on the interest, however.

Monsanto had offered to buy the company at a price of 449 Swiss francs ($489.84) per share, Syngenta said. Based on the number of shares issued, that would value Syngenta at 41.7 billion francs ($45.5 billion).

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