State-owned ChemChina is in talks to buy Syngenta, just months after the Swiss company rejected a takeover bid by Monsanto Co., according to a Bloomberg report.
The potential acquisition would be the largest ever for a Chinese company, Bloomberg said, citing unnamed sources familiar with the matter.
According to the report, ChemChina offered about 449 francs a share in cash, which values Syngenta at 41.7 billion francs ($42 billion), said one of the people, who asked not to be identified because the information is private. Syngenta said the figure was too low, citing the regulatory risks to a deal, but it served as a basis for discussions, Bloomberg said.
Syngenta earlier rejected a cash-and-stock offer, also for $42 billion, from Monsanto.
Syngenta, the world’s largest pesticide producer, is also talking to other potential suitors as it explores options, according to Bloomberg.