Syngenta rejects $45B Monsanto takeover offer

Agrochemicals firm Syngenta on Friday rejected a $45 billion takeover offer from Monsanto, saying the offer undervalued the Swiss firm and did not fully take into account regulatory risks, according to the St. Louis Post-Dispatch.

Syngenta's board voted unanimously to rejec the 45 percent cash offer that would value the company at 449 Swiss francs ($486.35) per share.

"The offer fundamentally undervalues Syngenta's prospects and underestimates the significant execution risks, including regulatory and public scrutiny at multiple levels in many countries," Syngenta said in a statement.

Read more from the St. Louis Post-Dispatch.