Monsanto's cost-cutting steps to raise cash for seed-company acquisitions

Article Abstract:

As Monsanto Co. moves more toward becoming a leader in bioengineered crops, it needs to raise cash to replenish its coffers after recent and pending acquisitions. Steps it announced it will take in this direction are selling certain assets for about $1 billion, laying off another 700-1,000 workers and offering enough common stock to raise another $1 billion. The recent collapse of merger plans with American Home Products in October is said to be due to management differences.

Financial management, Chemicals & Allied Products, Chemical Manufacturing, CHEMICALS AND ALLIED PRODUCTS, Planning, Finance, Chemicals, Chemical industry, Monsanto Co., MTC

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Cargill agreement to sell seed business to Germans for $650 million collapses

Article Abstract:

The German joint venture, AgrEvo GmbH, has pulled out of the acquisition of Cargill Inc.'s North American seed business that was going to cost $650 million. Now AgrEvo wants to avoid possible litigation from involvement with Cargill. Cargill has just admitted that it has found genetic material from Pioneer Hi-Bred International Inc. in its seeds. Cargill claims it was a former employee who brought Pioneer material with him when he changed jobs.

Comment:

Sale of seed business halts due to admission about genetic material from competitor

Legal issues & crime, Corn, Corn Farming, Nursery and Floriculture Production, Seeds, AGRICULTURAL PRODUCTION--CROPS, Cases, Genetic markers, Seed industry, Corn industry, Cargill Inc.

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