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An ‘inversion’ takeover of agrochemicals maker Syngenta holds the appeal of an effective tax rate of 15 per cent, compared with Monsanto’s 27 per cent.
An ‘inversion’ takeover of agrochemicals maker Syngenta holds the appeal of an effective tax rate of 15 per cent, compared with Monsanto’s 27 per cent.
(Arnd Wiegmann / Reuters/)

Syngenta put on notice after reported play by Monsanto

Tax-driven M&A keeps blossoming. Shares in Syngenta, the $34-billion (U.S.) Swiss agrochemical firm, jumped on a report of an abortive approach from Monsanto. That follows similar U.S. tilts at overseas targets offering tax advantages, in sectors as diverse as health care, semiconductors, advertising and bananas. Even if no deal emerges, the bid interest will pressure Syngenta to better tend to its own garden.