American Home Products May Make Bid for Monsanto, Forbes Says
Bloomberg News
November 15, 1998, 6:36 p.m. ET
New York, Nov. 15 (Bloomberg) -- American Home Products may
again be eyeing Monsanto, barely one month after the two canceled
their proposed $35 billion merger, Forbes reported in its
''Streetwalker'' column. American Home's Chief Executive Officer
John Stafford has gotten a closer look at Monsanto's pipeline and
likes what he sees and is planning to launch an unfriendly bid
that would, among other things, dump Monsanto Chief Executive
Officer Robert Shapiro. The original deal would have had American
Home Products buying Monsanto for stock and winding up with
65 percent control of the company, Forbes said.
St. Louis-based Monsanto and Madison, New Jersey-based
American Home Products canceled their merger Oct. 14, after
company executives, analysts said, could not agree on who would
control the company.
(Forbes 11/30 365 www.forbes.com |
