NEW YORK (TheStreet) -- Syngenta (SYT) shares are down -1.6% to $75.73 on Wednesday following reports that the Swiss company has rejected acquisition inquiries from American rival, and largest seed maker in the world, Monsanto (MON).
The two agribusiness giants were in acquisition talks for a reported $34 billion according to a Reuters report. The deal would have moved Monsanto's tax base out of the U.S. to more tax friendly Switzerland.
Syngenta's management are in opposition to the deal, sources told Bloomberg.
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