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Syngenta among possible targets as Monsanto mulls takeover push

Published 2015-11-17, 01:10 p/m
© Reuters. Syngenta among possible targets as Monsanto mulls takeover push
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By P.J. Huffstutter
ST. LOUIS, Nov 17 (Reuters) - Monsanto (N:MON)
executives are discussing whether the world's largest seed
company should try to acquire agrochemical rivals, including top
pesticide maker Syngenta AG SYNN.VX , Monsanto President Brett
Begemann said on Tuesday.
The internal discussions, ongoing since the company walked
away from its $46 billion offer for Syngenta in August, include
weighing the benefits of bidding for rivals such as Bayer
CropScience, Begemann told reporters at the company's
headquarters.
"We've had conversations inside," about Syngenta and other
agricultural companies, Begemann said. "I'm not going to comment
on whether we've pursued any other conversations" outside of
Monsanto.
"Right now, we're sitting back and staying focused on our
core business. If an opportunity comes along, we'll look at
that," Begemann said.
Monsanto has "no new news" regarding what it might do in
terms of a possible offer to Syngenta or any other agrochemical
company, Begemann said.
Asked by a reporter if Monsanto had been in talks with Bayer
AG BAYGn.DE , Begemann declined to comment.
Referring to the entire industry, Begemann said, "There are
a lot of discussions going on, and only a handful that will come
to fruition in the future."
Begemann said the company expects its profit growth will
reach 20 percent a year, and doesn't need a big acquisition deal
to achieve its previously reported goal of doubling earnings to
more than $10 a share by 2019.

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