monsanto co (MON) Key Developments
ChemChina Says Not Considering Bids For Monsanto's Herbicide Business
May 22 15
China National Chemical Corporation (ChemChina) is not considering bidding for Monsanto Company's (NYSE:MON) herbicide business or for Swiss crop chemicals maker Syngenta AG (SWX:SYNN), a top ChemChina executive told Reuters on May 22, 2015. "There have been some market speculations on this about ChemChina, but it's not us. We are not in contacts with (these) companies," said Robert Lu, ChemChina's Vice President in charge of overseas acquisitions. Banking sources have previously told Reuters that ChemChina could be among the potential buyers for some of the assets that may be sold to overcome antitrust issues arising from Monsanto's planned acquisition of Syngenta.
Monsanto Company and The Scotts Miracle-Gro Company Expand Long-Standing Partnership
May 20 15
Monsanto Company and The Scotts Miracle-Gro Company announced the two companies have extended their nearly two-decade long partnership in the lawn and garden consumer market. As part of the extension, Monsanto also renewed and expanded the terms of its marketing agreement with Scotts and provided preferred access to Monsanto’s R&D pipeline for lawn and garden. Under the agreement, Scotts will pay Monsanto a one-time upfront payment of $300 million in exchange for a Roundup® brand license, extended agency agreement and technology agreement.
Monsanto Confirms Divestment Of All of Syngenta's Seed Business
May 20 15
Monsanto Company (NYSE:MON) said it plans to divest all of Syngenta AG's (SWX:SYNN) seeds and traits businesses as well as some overlapping chemistry assets to get regulatory approval for a takeover of Syngenta. Syngenta officials reacted swiftly to Monsanto's comments, saying a sell-off of its seeds business would not be enough to allay regulators' concerns about the tie-up.
Monsanto Reportedly Seeks Buyer For Syngenta's Seed Business
May 14 15
Monsanto Company (NYSE:MON) is trying to line up buyers for assets worth up to $8 billion to appease competition authorities before making a fresh takeover approach for Syngenta AG (SWX:SYNN), possibly within three weeks, industry sources said. Monsanto is expected to tap BASF SE (DB:BAS), an existing joint venture partner, as it seeks a buyer for the U.S. seeds business of Syngenta, which can't be part of its proposed takeover, sources said.
Monsanto Company Announces $800 Million Debt Offering
Apr 8 15
Monsanto Company announced the pricing of $800 million aggregate principal amount of fixed rate senior notes consisting of $300 million in senior notes that mature in 2025 and bear interest at a rate of 2.850%, $500 million in senior notes that mature in 2045 and bear interest at a rate of 3.950%. The company indicated that it expects to use the proceeds from the offering for general corporate purposes, which may include capital expenditures and share repurchases.