Syngenta Climbs 1.5% After Report Of BASF Bid Interest

Shares of Syngenta AG rose 1.5% in an otherwise downbeat market on Thursday after a report that German chemicals group BASF SE is mulling an offer for the Swiss agrochemical company. Reuters reported late Wednesday that BASF is talking with investment bankers about making a possible bid for Syngenta, but that no offer may materialize. Syngenta has already received a $45 billion takeover offer from U.S. rival Monsanto Co. , but rejected the bid in May, arguing the deal undervalued its business. A representative from BASF wasn't immediately available to comment on the Reuters report.