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Biotech / Medical : Monsanto Co.
MTC 2.920-3.9%Jan 7 3:59 PM EST

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To: Dan Spillane who wrote (1459)3/3/1999 4:40:00 PM
From: Anthony Wong   of 2539
 
The deal doesn't need to be that dilutive to DD, if DD spins off the rest of Conoco (70%), sells its 20% stake in Pioneer Hi-Bred, perhaps even sells or spins off its chemical business, uses the cash to retire some of MTC's debt or do some refinancing of the debt. Analysts' mean estimates are for MTC to earn 80 cents in 99; that's probably a bit low since it has taken a conservative estimate of Celebrex's sales. MTC may be able to earn another 10 - 20 cents more this year, notwithstanding the high marketing costs.
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