Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

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

Join For Free

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 3,300+ scientific posters on ePosters
  • More Than 4,900+ 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 TechnologyNetworks.com 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
Devgen and Sang Hyang Seri Announce Hybrid Rice Production Cooperation in Indonesia
The new business unit is a contractual joint venture that will be jointly managed.
Friday, July 24, 2009
Scientific News
Shedding Light on HIV Vaccine Design
Broadly speaking - Mathematical modelling of host-pathogen coevolution sheds light on HIV vaccine design.
AACC 2016 Sees Clinical Chemistry Labs Drive Precision Medicine Offerings
Biomarker assays to enable precision medicine and risk assessment, mass spec-based tests designed for use in clinical labs large and small, and liquid biopsy technology captured the spotlight at the AACC annual meeting.
Automated Patch Clamping Trends
Learn more about current practices, preferences and metrics in ion channel drug screening using APC technology.
Lab-on-a-Stick: Miniaturised Clinical Testing For Fast Detection Of Antibiotic Resistance
A portable power-free test for the rapid detection of bacterial resistance to antibiotics has been developed by academics at Loughborough University and the University of Reading.
Genetic Ancestry of Cultivated Strawberry Unravelled
UNH scientists constructed a linkage map of the seven chromosomes of the diploid Fragaria iinumae, which allows them to fill in a piece of the genetic puzzle about the eight sets of chromosomes of the cultivated strawberry.
Progress In Vaccination Against Vespid Venom
Researchers at the Helmholtz Zentrum München and the Technical University Munich have presented a method which facilitates a personalised procedure for wasp allergy sufferers.
New Drug Target for Inflammatory Disorders
Penn study finds enigmatic molecules maintain equilibrium between fighting infection and inflammatory havoc.
Breast Cancer Cells Found To Switch Molecular Characteristics
Spontaneous interconversion between HER2-positive and HER2-negative states could contribute to progression, treatment resistance in breast cancer.
Mechanisms of Calcium Blockers
Researchers describe how the fundamental mode of action of two distinct chemical classes of calcium channel blockers differs.
Some Breast Cancer Patients With Low Genetic Risk Could Skip Chemotherapy
Genetic test can help predict survival and guide treatment options.
Scroll Up
Scroll Down
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
3,300+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,900+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!