Dow Chemical interested in Syngenta Seeds Unit

Date:07-27-2015

Dow Chemical Co. Chief Executive Officer Andrew Liveris said he’d be interested in buying Syngenta AG’s seed business if it’s sold as part of Monsanto Co.’s proposed acquisition of the Swiss pesticide maker.

Dow's Agricultural Sciences sales results ($ million)
Q2 Ended June 30	Q2 2015	Q2 2014	% Changes	Six-month 2015	Six-month 2014	% Changes
Sales	1,747	1,907	-8.3	3,611	4,026	-10.3
EBITDA*	269	249	+8	678	755	-10.2
* Earnings before interest, tax, depreciation and amortization

While Dow’s AgroSciences unit is a leader in developing genetically modified seeds, it lacks a large seed business through which it can sell its technology, Liveris, who is also chairman, said last Thursday in an interview on Bloomberg Television.

Syngenta, the world’s biggest pesticide maker, has rejected Monsanto’s unsolicited $45 billion bid and refused to enter negotiations, saying the offer is too low and that antitrust regulators would block the deal. Monsanto says it would divest Syngenta’s seed business to address competition concerns and pay a $2 billion reverse breakup fee if regulators block the deal.
“If there is a round of consolidation that makes sense for our investors we will be at the table,” Liveris told Betty Liu. “There could be an opportunity.”