AgStar, Rabobank bid for FCS
Rabobank announced in July it planned to purchase Farm Credit Services (FCS) of America, based in Omaha, for $600 million in cash. In mid-August, AgStar Financial Services, based in Mankato, MN, announced it had submitted a proposal for FCS and offered $650 million in cash. Any purchase must first be approved by the Farm Credit Administration and FCS shareholders.
Syngenta files antitrust lawsuit
Syngenta Seeds announced that it has filed a lawsuit against Monsanto Company. The lawsuit claims that Monsanto has engaged in illegal and improper activities to maintain a monopoly of key corn traits in the U.S., including Monsanto's attempts to prohibit Syngenta from competing with GA21, a glyphosate-tolerant corn trait.