Agricultural companies Monsanto and Syngenta are working with investment banks on a takeover deal that would create an industry behemoth with combined sales of more than $31 billion, three sources familiar with the matter said.Swiss crop chemicals maker Syngenta is working with Goldman Sachs to assess the merits of a sale to the world's largest seeds company Monsanto, which is being advised by Morgan Stanley, the sources said.Rumours of talks between the two companies gained momentum at the end of April, sending shares in Syngenta to a record high of 351 Swiss francs on May 4 before easing amid a broad decline in equity markets.Spokesmen at Monsanto, Syngenta, Goldman Sachs and Morgan Stanley declined to comment.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.32% or $0.49/share to $37.54. In the past year, the shares have traded as low as $29.26 and as high as $39.19. On average, 9370570 shares of MS exchange hands on a given day and today's volume is recorded at 12404662.