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Last $108.35 USD
Change Today +0.69 / 0.64%
Volume 4.0M
MON On Other Exchanges
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As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

monsanto co (MON) Key Developments

Monsanto Tries Anew To Tackle Syngenta’s Antitrust Concerns

In rejecting Monsanto Company (NYSE:MON) two offers this year to buy Syngenta AG (SWX:SYNN) has offered two main reasons, Monsanto’s offer, at $45 billion, is too low, and the merger comes with a high risk of derailment by regulators. Monsanto has said publicly it would divest Syngenta’s entire seed and trait business and overlapping chemicals if a deal was made. In the white papers, lawyers said Monsanto has received interest from “highly credible potential buyers” for the proposed divestitures.

Monsanto Company Considers Potential Investment of More Than $1 Billion over the Course of 3 to 5 Years to Support 200 Million-Acre Opportunity

Monsanto Company to begin its preliminary investment in dicamba production at its Luling, Louisiana location. Pending final approvals, the company considering a potential investment of more than $1 billion over the course of 3 to 5 years to support this 200 million-acre opportunity.

Monsanto Company Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2015; Revises Earnings Guidance for the Fiscal Year 2015

Monsanto Company announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2015. For the quarter, the company reported net sales of $4,579 million compared to $4,250 million a year ago. Income from operations was $1,644 million compared to $1,249 million a year ago. Income from continuing operations before income taxes was $1,556 million compared to $1,221 million a year ago. Net income attributable to the company was $1,141 million or $2.39 per diluted share compared to $858 million or $1.62 per diluted share a year ago. EBIT was $1,607 million compared to $1,211 million a year ago. Diluted earnings per share from continuing operations attributable to company were $2.39 against $1.62 a year ago. For the nine months, the company announced net sales of $12,646 million compared to $13,225 million a year ago. Income from operations was $4,083 million compared to $4,232 million a year ago. Income from continuing operations before income taxes was $3,845 million compared to $4,077 million a year ago. Net income attributable to the company was $2,809 million or $5.80 per diluted share compared to $2,896 million or $5.45 per diluted share a year ago. EBIT was $4,077 million compared to $4,128 million a year ago. Net cash used in operating activities was $30 million compared to net cash provided by operating activities of $371 million a year ago. Capital expenditures were $701 million compared to $688 million a year ago. Diluted earnings per share from continuing operations attributable to company were $5.75 against $5.43 a year ago. For the fiscal year 2015, the company reaffirmed ongoing earnings per share guidance at the low end of the range of $5.75 to $6.00. EPS guidance on an as-reported basis continues to be expected at the low end of the range of $5.80 to $6.05 per share. The company also continued to track at the low end of its original free cash flow guidance of $2.0 billion to $2.2 billion, with net cash provided by operating activities expected to be $3.0 billion to $3.3 billion and net cash required by investing activities to be approximately $1.0 billion to $1.1 billion. The tax rate for the full year 2015 continues to migrate lower, and the company now expected it to be in the range of 27% to 28%, more in line with third quarter effective tax rate.

Monsanto Needs To Make More Serious Offer

The chairman of Syngenta AG (VTX:SYNN) said that Monsanto Company (NYSE:MON) has to significantly improve its offer if it wants to acquire Syngenta. "A serious proposal to buy Syngenta has to be made at full and fair value, has to recognise for shareholders the inherent combination benefits and has to provide a high degree of certainty that the transaction will be closed," Chairman Michel Demare said in a video posted on Syngenta's website. Syngenta has already turned down a $45-billion bid from Monsanto.

Monsanto Says Bayer Among Options If Syngenta Deal Fails

Monsanto Company (NYSE:MON) is exploring other options should Syngenta AG (SWX:SYNN) should continue to reject the deal. Monsanto would approach Bayer AG (DB:BAYN) about acquiring its crop chemicals business if it can’t buy Syngenta, Brett Begemann Chief Operating Officer of Monsanto said. While Monsanto is “committed” to acquiring Syngenta, “we won’t stay at it forever,” he said. “There are other options to pursue from a chemical standpoint, and we will go after those,” Begemann said. “I don’t know what Bayer is going to do with their crop-protection business, whether they’ll sell it or not, but I’m sure they’d be happy to talk about some other kind of marketing arrangement.”

 

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MON

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Valuation MON Industry Range
Price/Earnings 19.8x
Price/Sales 3.3x
Price/Book 6.0x
Price/Cash Flow 18.8x
TEV/Sales 2.6x
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