Syngenta rejects second Monsanto takeover proposal

Syngenta has rejected a second takeover offer from Monsanto that included a $2 billion breakup fee, the Switzerland-based agricultural chemical giant announced.

Monsanto bid $45 billion for the company, which Syngenta officials said was a repeat of its first proposal in April, according to the St. Louis Business Journal.

"Monsanto's second letter represents the same inadequate price, same inadequate regulatory undertakings to close, same regulatory risks and same issues associated with dual headquarters' moves," Syngenta officials said.

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