Syngenta (SYT) Stock Skyrocketing on Monsanto Takeover Talks

NEW YORK (TheStreet) -- Shares of Syngenta (SYT) are soaring by 14.11% to $76.50 in pre-market trading on Friday morning, one day after Bloomberg reported that the crop protection and seeds business was approached by the agricultural products provider Monsanto (MON) regarding a takeover, one year after a previous attempt fell apart.

Shares of Monsanto are up 3.54% to $117.99.

The two companies have been discussing Monsanto's interest in recent weeks, sources told Bloomberg, noting that Syngenta has some concerns about the antitrust issues the combination would raise. Sources also said the discussions may result in no deal being reached.

Syngenta and Monsanto were in preliminary talks last year, but management at Syngenta decided not to complete the negotiations due to concerns over relocating the company and antitrust issues.

If the two companies were to merge it would make Monsanto the largest player in the world for both seeds and crop chemicals, Bloomberg added.

SYT Chart SYT data by YCharts

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