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Paulson's hedge fund takes stake in Syngenta: sources
July 14, 2015 / 10:24 PM / 2 years ago

Paulson's hedge fund takes stake in Syngenta: sources

(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.

Swiss agrochemicals maker Syngenta's logo is seen in front of the headquarters in Basel February 4, 2015. REUTERS/Arnd Wiegmann

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 has purchased shares of potential acquisition targets in the past in contested mergers such as that of drug companies Mylan NV (MYL.O) and Teva Pharmaceutical Industries Inc. (TEVA.TA).

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

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