The recent announcement of the mega-merger between Dow and DuPont is a “final reality check” for Syngenta, according to the Alliance of Critical Syngenta Shareholders.
In a statement posted on its website, the group says, “Prior media reports suggested that Syngenta’s Chairman, [Michel] Demaré, had hoped to find a way out of his challenging situation by striking a deal with Dow or DuPont. It now appears that these companies have clearly given him the cold shoulder.”
The Alliance of Critical Syngenta Shareholders has been vocal as of late in regard to what it feels is poor leadership at Syngenta. Its latest statement goes on to once again recommend Syngenta look at selling the company.
“Time is of the essence, as this newly formed DowDuPont creates a global giant with a massive seed businesses and crop protection portfolio that will be quickly stalking Syngenta’s core markets. With that combined company executing its own integrated strategy, Syngenta must quickly find a path that allows it to compete. Everything now hangs in the balance.
“We renew our call for the company to engage in meaningful dialogue with all interested suitors. In the course of this week, we will share additional sentiment in that respect from the shareowners survey that we are currently conducting.”
