Syngenta must explain 'Plan B' after Monsanto scraps $47 bln bid -investors

LONDON, Aug 26 (Reuters) - Syngenta (Xetra: 580854 - news) shareholders called on the board to clarify how it intends to make up billions of dollars of lost shareholder value after Monsanto Co. ditched its $47 billion bid for the Swiss company.

The U.S (Other OTC: UBGXF - news) .-based agricultural seed giant said on Wednesday it was walking away from its efforts to acquire Syngenta, which rejected a recently sweetened offer of 470 Swiss francs a share.

"What I am looking for now is what Syngenta has to say. Now (Frankfurt: 11N.F - news) we need the board and the management to explain their Plan B," said Pauline McPherson, co-fund manager of Kames Capital's global equity fund, which holds Syngenta stock.

"The ball is firmly in their camp with regards to creating the value they have just refused," she added.

A second investor, who declined to be named, also questioned why Syngenta's management were so reluctant to open their books.

"There will be a huge amount of pressure ... whether they care is another matter...They had a reasonable bid on the table and now the share has fallen 20 percent... it will be interesting to see what Syngenta has to say." (Reporting By Sinead Cruise and Simon Jessop, editing by Alexander Smith)