date:Sep 25, 2012
Swiss agrochemicals company Syngenta has announced an offer to acquire Belgian hybrid seed firm Devgen, for EUR403m, as a part of its plan to strengthen its presence in rice business.
The takeover bid is for all the outstanding shares of Devgen, at EUR16 for each share, which represents a premium of 70% to Devgen's closing price of EUR9.43 on 20 September 2012. Syngenta also plans to acquire all the outstanding warrants issued by Devgen.
Devgen, which markets its products primarily in Europe,