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Biotech / Medical : Delta & Pineland Co. -- Ignore unavailable to you. Want to Upgrade?

To: Rob C. who wrote (39)	11/12/1998 10:12:00 AM
From: Rob C.	Respond to of 67

Value of the deal could change if the price of MTC moves 25% higher or lower. With that said MTC was $55.00 when the deal was announced...the stock is now $38.00. Roughly 30% less. The terms of the deal may have changed. Read below... Under a separate agreement, Delta & Pine Land will merge into Monsanto, subject to the approval of Delta & Pine Land's shareowners. Its shareowners would be entitled to receive 0.8625 shares of Monsanto's common stock in exchange for each share of Delta & Pine Land stock they hold. Monsanto currently owns 4.7 percent of Delta & Pine Land's common shares and 800,000 shares of nonvoting preferred stock. The exchange ratio may be adjusted if Monsanto's average stock price rises or falls by more than 25 percent during the period from signing until either Delta & Pine Land shareowners meet to act on the merger or 90 days pass from the time of the signing, whichever comes first.