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Breaking News From CNBC’s Kate Kelly: Syngenta & Monsanto Not Far Apart on Price – Source

WHEN: Today, Tuesday, August 4th

WHERE: CNBC's "Closing Bell"

Following is the unofficial transcript of breaking news from CNBC's Kate Kelly.

All references must be sourced to CNBC.

KATE KELLY: SOME INTERESTING DEVELOPMENTS HERE ON THE PURPORTED MONSANTO/SYNGENTA DEAL. AS YOU MAY RECALL, THE LARGE AGRICULTURAL COMPANY MONSANTO MADE AN OVERTURE TO SYNGENTA THE SWISS PESTICIDE COMPANY FOR $45 BILLION TO PURCHASE THEM IN MAY. THAT WAS REBUFFED. BUT INVESTORS INCLUDING THE HEDGE FUND MANAGER JOHN PAULSON LOOKING TO SEE A DEAL STILL COME TOGETHER. SOMEONE FAMILIAR WITH PAULSON'S THINKING TELLS ME HE THINKS ACTUALLY THE TWO SIDES ARE NOT TOO FAR APART ON PRICE, WHICH INDICATES OF COURSE, THAT THEY ARE STILL TALKING. A RECENT INVESTOR POLL SUGGESTED THAT MOST INVESTORS WOULD LIKE TO SEE AT LEAST A 5% PREMIUM ON THAT $45 BILLION ORIGINAL PRICE. WE'LL SEE ABOUT THAT. BUT I CAN ALSO TELL YOU THAT PAULSON HAS TAKEN A SMALL POSITION IN SYNGENTA AND IF THE TERMS WERE CORRECT, WOULD LIKELY VOTE THOSE SHARES IN FAVOR OF A MONSANTO PURCHASE. SO, DETAILS STILL EMERGING, BUT THIS DEAL HAS BEEN IN THE NEWS BECAUSE PEOPLE SEEM TO THINK IT IS BEING RESURRECTED, KELLY AND MY REPORTING SUGGESTS THAT THAT'S THE CASE. AND ONE MAJOR ARB SEEMS TO THINK IT VERY WELL MAY WORK OUT.

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