(Reuters) - Hedge fund Paulson & Co has taken a stake in Syngenta AG, SYNN.VX, and could push for the board of directors of the Swiss pesticide maker to accept a takeover offer from U.S. seed company Monsanto Co, (MON.N) people familiar with the matter said on Tuesday.
Monsanto, the world’s largest seed company, made a $45 billion bid for Syngenta that the Swiss company rejected. The U.S. company is still working on a deal and could decide to increase its bid.
Paulson & Co, headed by billionaire John Paulson, became famous after betting that the U.S. housing bubble would burst. The people familiar with the matter asked not to be named because they were not authorized to speak publicly.
Paulson & Co was said to have began amassing its stake in June one of the people said.
Bloomberg LP reported Paulson’s stake earlier today.
Reporting By Mike Stone; Editing by David Gregorio