Syngenta Chairman Reaffirms Monsanto Approach Not In Company's Best Interest

(RTTNews) - The Chairman of Swiss crop chemicals firm Syngenta AG's (SYT) Board of Directors Michel Demaré reaffirmed the company's position on Monsanto Co.'s (MON) recent approach, which was rejected for not being in the best interests of Syngenta, its shareholders and its stakeholders.

Demaré was speaking in a video interview.

Syngenta received an unsolicited proposal from Monsanto to acquire the company at a price of 449 Swiss francs per Syngenta share with around 45 percent in cash. The offer was unanimously rejected by Syngenta's Board of Directors.

Monsanto reaffirmed its offer for Syngenta on June 6 and was again rejected two days later.