Monsanto offers name change to secure Syngenta takeover

Monsanto would be prepared to change its name to help secure a $45bn (£30bn) takeover of Syngenta.

A letter sent from Scottish-born Monsanto CEO Hugh Grant to Syngenta, the world’s biggest producer of agrichemicals, suggested a name change as part of a possible deal to merge both companies.

“We would also propose a new name for the combined company to reflect its unique global nature,” wrote Mr Grant.

See also: Syngenta rejects billion-pound buyout by Monsanto

In a letter sent to senior executives at Syngenta in June, Mr Grant proposes to combine the two companies under a newly formed parent company which would be registered in the UK.

In an interview with a Swiss newspaper on Tuesday (7 July), Mr Grant said he had held “very constructive” with Syngenta shareholders, adding that the company could raise its offer under certain conditions.

“If Syngenta commits to opening its books and detailing why it thinks it is worth more, we would reconsider our offer,” Mr Grant told Le Temps newspaper.

Syngenta has so far rejected all advances from Monsanto of a takeover.