Monsanto and Delta & Pine Land Co. (D&PL) announce they have signed a definitive agreement whereby Monsanto will acquire D&PL for $1.5 billion.Monsanto and Delta & Pine Land Co. (D&PL) announce they have signed a definitive agreement whereby Monsanto will acquire D&PL for $1.5 billion. The transaction was unanimously approved by the boards of directors of both companies and is subject to Delta and Pine Land shareowner share·own·er n. See shareholder. Noun 1. shareowner - someone who holds shares of stock in a corporation shareholder, stockholder investor - someone who commits capital in order to gain financial returns approval, antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. clearance, and customary closing conditions. "D&PL represents an excellent fit for our company as we look to bring value-added traits and high-quality seed to cotton growers around the world," said Hugh Grant, Chairman, Pres/CEO of Monsanto. "D&PL has strong cotton genetics genetics, scientific study of the mechanism of heredity. While Gregor Mendel first presented his findings on the statistical laws governing the transmission of certain traits from generation to generation in 1856, it was not until the discovery and detailed study of , and we believe Monsanto's leadership in providing the best cotton traits can improve on this already strong base." Upon completion of the acquisition, management of both companies believe the proposed combination creates the opportunity to strengthen both the domestic and international cotton seed business by enhancing penetration of second-generation biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. trait trait (trat) 1. any genetically determined characteristic; also, the condition prevailing in the heterozygous state of a recessive disorder, as the sickle cell trait. 2. a distinctive behavior pattern. offerings and continuing to invest in breeding to give cotton farmers who plant D&PL cotton seed varieties more choices. Note: For more information about the agreement, go to www.AgriMarketing. corn and insert "Monsanto" in the search box. |
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