According to a report by Bloomberg, the Monsanto takeover offer to Syngenta could cut Monsanto’s U.S. tax bill in half. If accepted and approved, Monsanto told Syngenta back in April they would incorporate the company in the U.K. – a move that could save them $500 million a year. A letter containing that information was made public earlier this week. Syngenta rejected the takeover deal worth $45 billion dollars but Monsanto is reportedly seeking more information about Syngenta to form a second possible takeover deal. Monsanto is willing to pay a $2 billion breakup fee if regulators reject the deal. Monsanto’s plans for Syngenta include selling overlapping seed and chemical units to overcome antitrust objections.
Source: NAFB News Service