Monsanto discusses purchase of rivals, say executives

Monsanto executives are discussing whether they should acquire rivals, including the main pesticide manufacturer Syngenta, said company executives on Tuesday, as talks continue consolidation in the global agrochemical industry.
"We had internal conversations" about Syngenta and other agricultural companies, said the Chairman of Monsanto, Brett Begemann, in a meeting with investors at its headquarters in St. Louis.
Executives of the company were studying all possibilities of consolidation in both the seed and the sector of agrochemicals.
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The Chief Executive of Monsanto, Hugh Grant, also speaking at the meeting of investors on Tuesday, said the company is "better placed to lead the consolidation or be a lead partner in an industry that is changing."
The world's largest seed company turned down an offer of 45 billion dollars for rival Syngenta in August and since then, almost all the big players in the business of agricultural chemicals and seeds were object of consolidation talks, amid a drop in horizon grain prices and farm income.
Last week, Syngenta turned down an offer of 42 billion dollars of Chinese State-owned China National Chemical Corp., according to Bloomberg. Dupont, Dow Chemical and Basf also appeared in news about negotiations of mergers and acquisitions.