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Biotech / Medical : Monsanto Co.
MTC 3.460+1.2%Jan 2 9:30 AM EST
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To: Anthony Wong who wrote (1613)3/15/1999 1:28:00 AM
From: Dan Spillane  Read Replies (4) of 2539
 
I find it hard to believe Monsanto is only worth 30 billion, considering Pioneer went for 7.6 billion.

DuPont to Pay Buy Out Pioneer Hi-Bred for $40-Share to Boost Seed Business

DuPont to Buy Rest of Pioneer Hi-Bred for $40-Share (Update1)
(Adds details, analyst comment beginning in 5th paragraph.)

Wilmington, Delaware, March 14 (Bloomberg) -- DuPont Co.
agreed to buy the 80 percent of Pioneer Hi-Bred International
Inc. that it doesn't already own for about $40 a share in cash
and stock to boost its agricultural business, people familiar
with the agreement said.

The transaction is valued at about $7.6 billion based on the
190.5 million shares outstanding that DuPont doesn't now hold.
DuPont, the biggest U.S. chemical company, bought a 20 percent
stake in Pioneer Hi-Bred, the world's largest seed-corn company,
for $1.7 billion in 1997. An announcement is expected as early as
Monday.

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