Biotech, M&A

Business merger sparks an acquistion deal between Syngenta & Devgen

Posted on 25 September 2012

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In a complete business merger and takeover deal, Syngenta would buy Belgian hybrid seed firm Devgen for 403 million euros ($522 million), as the Swiss company strengthens its foothold in rice-growing.


Syngenta is offering 16 euros per share for Devgen, a 70 percent premium over the 9.43 euros at which Devgen shares traded at Thursday's close and their 10.18 euro peak this year.

The Swiss group will also buy all outstanding Devgen warrants as a a part of this business merger.

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