Syngenta Shareholder Group Opposes Sale To ChemChina

Syngenta Shareholder Group Opposes Sale To ChemChina

A group of Syngenta shareholders said it opposes any sale of the company to China’s state-owned ChemChina and called for the ousting of the Swiss agrichemical group’s leadership, according to a report on Reuters.com.

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In a letter to the Basler Zeitung newspaper, the managing director of the group that says it was speaking after surveying holders of about 10 percent of Syngenta’s capital attacked Chairman Michel Demare.

“The board of directors is in a cul de sac from which it cannot exit on its own,” Folke Rauscher wrote. “So the only alternative is a comprehensive renewal of the board of directors at the forthcoming annual meeting.”

Read the full story on Reuters.com.