The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Syngenta announces its intention to launch a public voluntary offer in cash for Devgen at euro 16 per share

Friday, September 21, 2012

Syngenta announces its intention to launch a public voluntary offer in cash for Devgen at euro 16 per share01:00 EDT Friday, September 21, 2012BASEL, Switzerland, Sept. 21, 2012 /PRNewswire/ -- Communication in accordance with article 8 of the Belgian Royal Decree of 27 April 2007 on public takeover bids.Syngenta announced today the intention to launch, via its subsidiary Syngenta Crop Protection AG, a voluntary and conditional public takeover bid in cash for all shares and warrants issued by Devgen NV. The bid offers a price of euro 16 per share and the price for warrants has been determined in conformity with market practices.The bid has been recommended by the Board of Directors of Devgen and is supported by a number of major shareholders holding approximately 48 percent of all shares.The bid is contingent upon the fulfillment of certain customary conditions, including receipt of acceptances in respect of at least 80 percent of the shares that are subject to the offer and the condition that Devgen does not suffer a material adverse change before the results of the offer are published.Full details of the bid will be covered in the offer prospectus submitted by Syngenta and the memorandum of reply prepared by the Board of Directors of Devgen, following approval thereof by the FSMA, the Belgian financial markets regulator.Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.comCautionary Statement Regarding Forward-Looking StatementsThis document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor.Syngenta International AG Media contacts: Analyst/Investor contacts: Media Office Paul Barrett Jennifer GoughCH-4002 Basel Switzerland +41 61 323 2323 Switzerland +41 61 323 5059Switzerland USA +1 202 737 6521Tel: +41 61 323 23 23Fax: +41 61 323 24 24 Daniel Braxton Lars OestergaardSwitzerland +41 61 323 2323 Switzerland +41 61 323 USA +1 202 737 6520SOURCE Syngenta