02/11 15:40 Justice reviewing Monsanto's Delta & Pine Land buy
WASHINGTON, Feb 11 (Reuters) - The Justice Department's antitrust
team is still reviewing life sciences firm Monsanto Co.'s <MTC.N> deal
to acquire cotton seed maker Delta & Pine Land Co. <DLP.N>, a
government spokeswoman said Thursday.
"We are reviewing it," the spokeswoman said, adding she could not
say anything more about the case because it's pending.
When asked how much longer it will take for Justice to consider the
case, the spokeswoman replied, "We don't give timelines." Monsanto,
whose products include Roundup herbicides and Nutrasweet artificial
sweeteners, agreed in May to acquire Delta and Pine Land in a stock
swap.
Analysts say the deal could raise red flags at Justice because Delta
and Pine Land is the largest U.S. cotton seed maker, and Monsanto's
Stoneville cotton unit is the second biggest. Monsanto said in January
it planned to auction Stoneville in early 1999, a move analysts said
would bring it closer to government approval of the acquisition.
But company officials also said they had nothing new to report.
"The conversations are ongoing with the Department of Justice," a
spokeswoman for St. Louis-based Monsanto said.
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