About whether a sweetened deal from Monsanto would convince them to consent to discuss a trade Syngenta officials failed to return a request for comment on Tuesday. It’d refused comment late on Monday.
Syngenta has refused to open its books to its competition and had rejected a previous offer.
The newest offer comprises a rise in the breakup fee from $2 billion to $3 billion in the event regulators block the trade or falls apart for other reasons, the man said.
Monsanto is planning to join its world-top seeds company with pesticides operations and Syngenta’s own seeds, claiming by developing seeds and pesticides in tandem, the deal will make both companies better and incorporating sales and supply strategies.
Syngenta has up to now claimed the deal faces demanding regulatory hurdles that the 449 franc offer undervalues the business and that Monsanto hasn’t addressed.
“The biggest concern to Syngenta seems to be that the proposed follow-on disposal of Syngenta’s seeds business and overlapping herbicides is (tackling) anti-trust issues
From a flat view simply,” Merrill Lynch wrote in a research note after reports on Monday of the larger offer.