Monsanto Co. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Monsanto Co.

MTC 2.350

-7.1%

Nov 14 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Anthony Wong who wrote (600)	11/24/1998 8:38:00 AM
From: jopawa	Read Replies (1) of 2539

Anthony, Here's the text of the offering. Sounds like the deal is done in a week. Once that takes place, I would assume that it would make any takeover highly unlikely in the near future. Let's hope that Shapiro et all have the skills to execute now. John Monday November 23, 6:09 pm Eastern Time Monsanto prices offering at $40 a share ST. LOUIS, Nov 23 (Reuters) - Life sciences firm Monsanto Co. said Monday it priced a 22.5 million share offering at $40 a share as part of its plan to finance about $6 billion worth of planned acquisitions. Monsanto said it also priced a public offering of 17.5 million adjustable conversion-rate equity security units at $40 a unit. Monsanto expects to net $1.55 billion after offering expenses from the two offerings, which are set to close on Nov. 30, 1998. Goldman Sachs & Co. and Salomon Smith Barney are the joint book-running managers of each offering. Monsanto said it plans to use the proceeds to finance several seed company acquisitions, to refinance outstanding commercial paper as it becomes due and for working capital. Monsanto earlier this year agreed to acquire seed makers DeKalb Genetics Corp. (NYSE:DKB - news) and Delta and Pine Land Co. (NYSE:DLP - news). Both deals are pending regulatory approval. It also acquired the international seed operations of Cargill Inc. for about $1.4 billion and bought Plant Breeding International Cambridge Ltd. for about $525 million. Shares of Monsanto closed up 1/16 at 41.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next