Corporate Banner
Satellite Banner
Scientific Community
Become a Member | Sign in
Home>News>This Article

Devgen Receives a Tender Offer from Syngenta

Published: Monday, February 04, 2013
Last Updated: Monday, February 04, 2013
Bookmark and Share
Syngenta to acquire all shares of Devgen at a price of €16 in cash per share.

Devgen nv reports that Syngenta has announced an offer to acquire all outstanding shares of Devgen nv at a price of €16 in cash per share.

The public tender offer will start after the approval of the bid prospectus and the memorandum of reply by the Belgian Financial Services and Markets Authority (FSMA).

Subject to review of the final bid prospectus, the board of directors of Devgen supports the offer. The offer price of €16 per share represents a premium of 70% to Devgen’s closing price on NYSE Euronext Brussels as of 20 September 2012.

The board will provide its formal response to the proposed takeover bid in a memorandum which it will issue in due course in accordance with the applicable legal provisions.

The availability of the prospectus and the board’s memorandum will be announced, after the approval by the FSMA, via a press release and the company’s website.

Thierry Bogaert, CEO of Devgen, said: “This offer further confirms the value and achievements of Devgen’s R&D, breeding and commercial activities in Belgium, Singapore, India, the Philippines and Indonesia. I congratulate the team that built Devgen, by discovering new chemical and biotech crop protection solutions, by pioneering the next generation of hybrid rice and by building seed businesses in India and Southeast Asia. Devgen’s staff and management are committed to make this new opportunity a success and will be instrumental to leverage our proprietary technologies and products across Syngenta’s global platforms, one of the leading players in the agro-industry.”

The offer is contingent upon the fulfillment of certain customary conditions, including receipt of acceptances in respect of at least 80% of the shares that are subject to the offer and the condition that Devgen does not suffer a material adverse change before the results of the offer are published.

KBC Securities is acting as sole financial advisor to Devgen in this transaction.

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,800+ scientific posters on ePosters
  • More than 4,000+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Devgen NV - Business Update
Company has issued its three-month financial results.
Thursday, November 08, 2012
Devgen and Syngenta Enter Insect Control Research Partnership
License to access novel insect control technology.
Monday, October 22, 2012
SHS and Devgen Obtain Registration Approval for DG 5 SHS in Indonesia
Sales of new premium hybrid rice seed to start from fourth quarter of 2012.
Monday, August 06, 2012
Devgen Appoints a New Independent Director of the Board
Appointment of Mrs. Ruth Devenyns as independent director for two years.
Monday, June 04, 2012
Devgen Reports 2011 Full Year Results
Company provides business update and results for twelve month period ending 31st December 2011.
Monday, March 12, 2012
Devgen NV Successfully Completes a Private Placement for a Total Amount of € 26.8 Million
The shares were placed at a price of € 5.85 per share, which is at least equal to the 30 day average price, in compliance with Belgian Company Law.
Tuesday, May 03, 2011
Devgen Appoints Cheminova as Distributor in Southern Europe for its Nematicide Devguard®
Signing of agreement for distribution of Devgen's nematicide Devguard® in Spain, Italy, Greece and Portugal, for use on vegetable crops cultivated in greenhouses.
Sunday, April 10, 2011
Devgen and PT (Persero) Sang Hyang Seri sign memorandum of understanding on the introduction of biotech rice in Indonesia
Devgen and PT (Persero) Sang Hyang Seri (SHS) herewith further strengthen their relationship. The companies have already ongoing agreements for R&D, production and distribution of non-transgenic hybrid rice in Indonesia.
Friday, June 25, 2010
Devgen and PT Sang Hyang Seri Sign MoU on the Introduction of Biotech Rice in Indonesia
Both the companies further strengthen their ongoing agreements for R&D, production and distribution of non-transgenic hybrid rice in Indonesia.
Friday, June 18, 2010
Devgen Broadens its Services to the Indian Farmer Community by Accessing a new Distribution Channel
Devgen promotes yield increases for four major food crops in India through an increased adoption of premium quality hybrid seeds.
Monday, April 26, 2010
Scientific News
Turning up the Tap on Microbes Leads to Better Protein Patenting
Mining millions of proteins could become faster and easier with a new technique that may also transform the enzyme-catalyst industry, according to University of California, Davis, researchers.
Tardigrade's Are DNA Master Thieves
Tardigrades, nearly microscopic animals that can survive the harshest of environments, including outer space, hold the record for the animal that has the most foreign DNA.
GMO Food Animals Should be Judged by Product, Not Process
In a world with a burgeoning demand for meat, milk and eggs, regulatory policies around the use of biotechnologies in agriculture need to be based on the safety and attributes of those foods rather than on the methods used to produce them, says a UC Davis animal scientist.
Cancer-Fighting Tomato Component Traced
The metabolic pathway associated with lycopene, the bioactive red pigment found in tomatoes, has been traced by researchers at the University of Illinois.
TGAC Announces Milestone in Wheat Research
A more complete and accurate wheat genome assembly is being made available to researchers, by The Genome Analysis Centre (TGAC) on 12 November 2015.
Shedding Light on the Origin of the Date Palm
Researchers also find ‘genetic mutation’ that is responsible for dates’ color.
New Way to Find DNA Damage
University of Utah chemists devised a new way to detect chemical damage to DNA that sometimes leads to genetic mutations responsible for many diseases, including various cancers and neurological disorders.
Speeding Up Potato Breeding
A joint project is investigating the potential of drones for speeding up the development of new potato varieties.
Gene Editing Could Enable Pig-To-Human Organ Transplant
The largest number of simultaneous gene edits ever accomplished in the genome could help bridge the gap between organ transplant scarcity and the countless patients who need them.
Ancestors of Land Plants Were Wired to Make the Leap to Shore
When the algal ancestor of modern land plants made the transition from aquatic environments to an inhospitable shore 450 million years ago, it changed the world by dramatically altering climate and setting the stage for the vast array of terrestrial life.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos