Monsanto Company (NYSE:MON) appears unswayed by Syngenta's (VTX: SYNN) rejection of its takeover offer in a bid to form the world's largest crop protection and seed group.

In a release, the company highlighted its CHF449 (US$482) proposal contemplated a consideration of approximately 45% cash and would provide Syngenta shareholders with a "very attractive premium and significant further value creation".

"Monsanto has long respected and followed Syngenta's business and believes combining the two companies would deliver significant value to all stakeholders, including shareholders," Monsanto said.

"Creating a new company from the combination of Syngenta's strengths and leadership in crop protection chemicals and Monsanto’s leadership in seeds, traits and information technology would form an integrated global leader in agriculture with comprehensive and complementary product portfolios, and an Ag-focused organization with enhanced abilities to develop and accelerate innovative solutions for growers.

"Monsanto believes the combined company would be uniquely positioned to deliver a comprehensive suite of integrated solutions to farmers around the world and to accelerate technological innovation through precision agriculture and advanced research and development capabilities aimed at increasing the world’s food supply in a sustainable fashion."

The company said that together with financial and legal advisors it had devoted significant time and resources to analyzing the potential combination and was "confident in its ability to obtain all necessary regulatory approvals".

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