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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)

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To: Anthony Wong who wrote (901)	10/13/1998 1:51:00 PM
From: Anthony Wong	Read Replies (2) of 1722

10/13 13:31 INTERVIEW - Monsanto content to fly solo for now By Emily Kaiser CHICAGO, Oct 13 (Reuters) - Life sciences firm Monsanto Co. <MTC.N> is content to fly solo for now after its planned merger with pharmaceutical company American Home Products Corp. <AHP.N> fell through, and it will focus on integrating its planned acquisitions and bringing new products to market. "I'm sorry that it (the merger) fell through," Chairman Robert Shapiro told Reuters in a telephone interview. "We entered into it because we thought the combination would be a good one, so I regret that it isn't going to happen," he added. "But I will stand by the statement that our conclusion is, as was American Home's, that it is not in the best interest of our shareowners to proceed." Monsanto, the St. Louis-based maker of drugs and agricultural and nutritional products, said earlier today its deal to merge with American Home was terminated. The deal was valued at nearly $34 billion when it was first announced June 1. The companies offered no details about what caused the break-up, and Shapiro declined to elaborate. "We said in the press release everything that we're going to say about it, namely that the respective boards of directors concluded that it was in the best interest of shareholders of both companies not to go through with it," Shapiro said. "We're just not going to comment beyond that," he added. moneynet.com@NEWS-P2&Index=0&HeadlineURL=../News/NewsHeadlines.asp&DISABLE_FORM=&NAVSVC=News\Company

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