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Biotech / Medical : CGNE CALGENE
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To: Howard Henick who wrote (50)3/30/1997 2:08:00 AM
From: Exacctnt   of 76
 
Howard,

As an ex-employee of Monsanto, I worked in the worldwide consolidations of financial results, and I don't see why Monsanto would up its price for Calgene. They already consolidate Calgene's results into their worldwide numbers and treat the portion of Calgene's shares that they don't own as minority interest. If the price offered is not accepted by the non-aligned board members the result would be a much lower stock price. Monsanto in effect can control the company regardless of the vote. Besides, the pursestrings at Calgene are controlled by Monsanto as they now rely on Monsanto for any necessary funding. In my opinion its a done deal.

Regards,
Bob
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