Global seed technology major Monsanto is planning to divest Syngenta's seeds and genetic traits businesses to get its takeover offer approved by regulatory authorities.
Earlier this month, Syngenta rejected Monsanto's $45bn acquisition offer for the second time citing unfavorable terms for shareholders.
Despite repeated rejections, Monsanto is keen to acquire Syngenta as the acquisition, if completed, will allow the company to get more seeds and pesticides to market faster, helping farmers raise more crops.
Syngenta, however, said that the divestiture of its seeds and genetic traits businesses will not be enough to secure regulatory approval.
Syngenta spokesman Paul Barrett said: "The regulatory hurdles are more challenging than implied by the announcement.
"Syngenta as a stand-alone company has unrivaled scale and reach, with a strong presence in all regions and a crop-based strategy covering eight key crops."
If the proposed deal advances, an industry leader with combined sales of over $31bn will be created.
