Key Developments: Syngenta AG (SYT)
78.75USD
23 May 2013
$1.10 (+1.42%)
$77.65
$79.09
$79.09
$78.43
325,013
212,445
$87.73
$61.47
Latest Key Developments (Source: Significant Developments)
Syngenta AG Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Syngenta AG announced that for fiscal 2013, it expects sales growth in line with long-term target of 8%. The Company reported revenue of $14.202 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $15.35 billion for fiscal 2013. Full Article
Syngenta AG Announces USDA Approves For Agrisure Duracade Corn Rootworm Trait
Syngenta AG announced that the United States Department of Agriculture (USDA) has fully deregulated Agrisure Duracade, enabling launch in the US for the 2014 planting season. Agrisure Duracade expresses a protein to control corn rootworm. It has a different mode of action to Syngenta's existing Agrisure RW trait. When combined these traits provide unmatched insect control: USDA data show a tenfold reduction in Western corn rootworm beetle emergence and superior performance against all comparable traits. Agrisure Duracade enhances Syngenta's leading corn insect control portfolio, which includes seed treatments and insecticides as well as traits. It will also be used to create convenient and effective refuge-in-a-bag solutions for corn rootworm control featuring two new trait stacks: Agrisure Duracade 5122 and Agrisure Duracade 5222. Full Article
Isagro SpA Enters Into Commercial Agreement With Syngenta AG for Supply and Commercialization of Biological Fungicide Remedier
Isagro SpA announced that it has entered into a regional commercial agreement with Syngenta AG for the exclusive supply and distribution of Remedier, a biological fungicide for the control of soil-borne diseases in vegetables and ornamentals based on Trichoderma asperellum and Trichoderma gamsii technology and developed by Isagro’s research. The agreement will allow Isagro to gain access to Syngenta’s distribution network, sales and marketing experience, while enabling Syngenta to strengthen its offer of integrated solutions and its own range of fungicides by earning the right to distribute Remedier, under its own trademark on an exclusive basis, in countries of Europe, Middle East and Africa. In such countries Isagro will exclusively supply Syngenta, who will be the sole distributor and collaborate in registration activities with the product. Further terms of this commercial agreement were not disclosed. Full Article
Syngenta AG To Acquire Sunfield Seeds
Syngenta AG announced that it will acquire Sunfield Seeds, a US-based provider of sunflower seeds production and processing services to more than 30 countries. The transaction is expected to close by the end of 2012. Financial details were not disclosed. Full Article
Syngenta AG Secures EU Approval For Next Generation Fungicide
Syngenta AG announced that it has received European Union (EU) approval for isopyrazam, the first active ingredient from its pipeline of next generation fungicides. Approval represents a major step forward in the control of a wide spectrum of damaging fungal diseases, including performance against Yellow Rust. Isopyrazam's advanced "double-binding" technology ensures adhesion to fungus and to leaf wax, providing long-lasting and durable disease protection. Under the EU's provisional approval system, British and Irish cereal farmers have for the past two growing seasons experienced the benefits of isopyrazam, which is marketed as SEGURIS in wheat and BONTIMA in barley. Full Article
Syngenta AG Announces Commencement of Tender Offer to Acquire Devgen NV
Syngenta AG announced the commencement of its tender offer for all outstanding shares and warrants in Devgen NV. The intention to launch the offer was announced on September 21, 2012. The acceptance period for the tender offer opens on November 14, 2012 and is scheduled to close on December 5, 2012. The results of the tender offer will be published on December 12, 2012 and, if the offer is approved, settlement will take place on December 17, 2012. Full Article
Novozymes A/S Starts Cooperation with Syngenta AG-Ritzau
Ritzau reported that Novozymes A/S and Syngenta AG have started a cooperation on Taegro, a fermented biological mycotoxins based on the bacterium Bacillus subtilis. The two companies will jointly market and distribute the new product, which is based on Novozymes technology. Taegro is already approved in the U.S. market, but will now be extended to the rest of the world. Full Article
Syngenta AG Appoints New Chairman
Syngenta AG announced the appointment of Michel Demare as the new Chairman of the Board with effect from the next Annual General Meeting on April 23, 2013. Mr. Demare will succeed Martin Taylor who, as previously announced, will retire from the Board on that date. Full Article
Syngenta AG Announces Public Offer For Devgen NV
Syngenta AG announced a bid for the Belgian company Devgen NV. The intended takeover bid is for all outstanding shares and warrants issued by Devgen, representing a total consideration of around EUR403 million. Syngenta has offered EUR16 for each Devgen share and a price for the warrants set according to market practice. The bid has been recommended by the Board of Directors of Devgen and is supported by a number of major shareholders holding approximately 48% of all shares. Devgen is listed on the NYSE Euronext Brussels exchange; delisting is planned on completion of the transaction Full Article
Syngenta AG To Acquire Pasteuria Bioscience
Syngenta AG announced that it has agreed to acquire Pasteuria Bioscience, Inc., a US-based biotechnology company. Under the terms of the agreement, Syngenta will acquire Pasteuria Bioscience for aggregate payments of $86 million, with additional deferred payments of up to $27 million. The transaction is expected to close in the fourth quarter of 2012. Full Article
UPDATE 2-EU to ban pesticides blamed for harming bees
* Commission says it will impose ban anyway in coming weeks
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