6 syngenta shares


So apparently I hold a grand total of 6 shares of Syngenta AG, the world’s largest crop chemical producer. I’m guessing, since the company was formed as a result of a merger between Novartis and Zeneca Agrochemicals, that somehow I got the shares by way of Astra when Astra merged with one of the former ICI companies to form AstraZeneca.

Why are the 6 shares relevant now? I got a 8-page letter from UBS telling me that this company CNAC Saturn (NL) B.V. has offered to purchase all outstanding registered shares of Syngenta AG, ie this CNAC wants to buy Syngenta.

There’s not a lot of googlable information. The best is on Syngenta‘s own website:

  • cash offer at US$465 per share plus special dividend of CHF5
  • proposed ordinary dividend of CHF11 to be paid in addition
  • offer equivalent to CHF480 per share
  • new shareholder will enable strategic continuity and long-term investment in innovation
  • future IPO intended
  • Syngenta will remain a global company headquartered in Switzerland

Does it mean I’ll get over US$2,000 for just 6 shares? I guess so, right? Wow. I’m not sure if I chose the right option, to take the tender in dollars rather than CHF. The offer is in USD, and since the news was announced, USD-CHF rates have fluctuated significantly, wiping billions off what the Swiss shareholders would receive. Yeah, I think it was best, to receive payment in the currency they are buying at. The question is, how will UBS handle the dollars? IIRC, my bog-standard personal account is not multi-currency. I only kept it so I can claim I have a Swiss bank account, albeit it’s the Switzerland equivalent of having a Lloyds or BoA account. Oh wait, I have those too.