Syngenta investors call for strategic review of company
ZURICH (Reuters) - Syngenta should abandon efforts to sell parts of its business and instead conduct a strategic review, disgruntled shareholders said in a letter to the Swiss agricultural chemicals group's chairman.
"...we believe the board should not react to pressure from short term interests by selling the vegetable and flower seeds businesses but should instead conduct a full review of all strategic options," the Alliance of critical Syngenta shareholders wrote in a letter on Friday to Michel Demare.
"You have said that a divestment of the company is not an option, but we believe that a review must explore all options and exclude none," the group, which has around 120 members and claims to represent around 1 percent of Syngenta shares, said.
A representative for Basel-based Syngenta did not immediately respond to a request for comment.
(Reporting by Joshua Franklin and Oliver Hirt)
