NEW YORK (TheStreet) -- Syngenta (SYT) shares are down 0.03% to $67.91 in early morning trading on Monday, following a report that some of the company's shareholders are upset that it rejected a merger with rival Monsanto (MON) , according to TheWall Street Journal

The discontent could lead to the replacement of current board members with those that would be more amenable to a merger, according to TheJournal.

Last week, Monsanto officially dropped its bid for the Swiss agribusiness company after Syngenta rejected Monsanto's latest $47 billion offer.

"The management of Syngenta is throwing away $15 billion to $20 billion of shareholders' money," said Mark Yockey, portfolio manager of Artisan Partners, according to TheWall Street Journal.

Artisan Partners is one of Syngenta's top 10 shareholders.

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Syngenta responded by telling TheJournal that it is confident that its stand alone strategy can succeed.

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