Monsanto gives up on Syngenta takeover

Multinational agribusiness Monsanto has abandoned its pursuit of Swiss-based rival Syngenta.

Syngenta rejected an improved offer of $47 billion, which it said undervalued the company.

Monsanto wanted to buy Syngenta to boost its agrichemicals portfolio, which relies mainly on the glyphosate-based Roundup product, which is undergoing re-registration in Europe and which has been attacked by green groups.

Syngenta's flower seed business remains for sale.

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