Syngenta Rejects $45 Billion Takeover Offer from Monsanto

Syngenta AG, the world’s largest maker of agricultural chemicals, rejected a 41.7 billion Swiss franc ($45 billion) takeover offer from U.S. rival Monsanto Co. because the offer undervalues the company and a merger would have significant execution risks.

Monsanto proposed paying 449 Swiss francs a share with 45 percent in cash, Basel-based Syngenta said in a May 8 statement, confirming a Bloomberg report that it had received and rejected an offer while leaving the door open for further talks.

A deal would make Monsanto, a U.S. maker of genetically modified seeds and weedkillers, the largest player in both seeds and ...