World Bulletin / News Desk
Monsanto, the agrochemical and seed giant, is eyeing a move to the UK as part of a complex merger with Swiss rival Syngenta that would take advantage of Chancellor George Osborne’s lower corporation tax rate.
The US firm is proposing a so-called “corporate inversion,” or “tax inversion,” which would involve setting up a new company registered in the UK.
Syngenta rejected the $45 billion revised bid from Monsanto on Monday, priced at $489.84 per share – a 43 percent premium on current prices.
The US agrochemical firm, known for its genetically modified (GM) crops, also offered a $2 billion termination fee to be paid in the event an anti-trust regulator blocks the merger.
Under the plan, Monsanto investors would end up with a 70 percent holding in the UK company while investors in Syngenta would take the rest.Güncelleme Tarihi: 09 Haziran 2015, 15:59