Bayer CEO said Syngenta “not a Logical Fit”
Swiss agrochemicals group Syngenta, currently being pursued by US giant Monsanto, is” not a logical acquisition target for Bayer,” Marijn Dekkers, CEO of the German group, said in an interview with the business news channel CNBC.
Both Syngenta and Bayer are very strong in chemical crop protection, Dekkers pointed out – in contrast to Monsanto, which is seeking to reduce its dependence on GMO seeds.
Up to now, Dekkers has been loath to comment on the international showdown; however, Liam Condon, CEO of Bayer CropScience, told the news agency Bloomberg in June that if the Monsanto bid is eventually accepted by Syngenta shareholders, other of the industry’s players could be forced to review their strategies.
Condon explained that many players have cooperation agreements with either Monsanto or Syngenta, or both, as well as with each other. Any change in ownership structure could change the rules of the deals.
Both Bayer and German rival BASF in the past have been named as candidates to buy Syngenta's seed business, which Monsanto would probably have to sell to allay antitrust concerns.