Monsanto gets clearance to buy DeKalb after reaching a verbal pact with U.S

Article Abstract:

Monsanto has made an agreement with the Justice Dept. to satisfy regulators and allow the firm to move ahead with its merger with DeKalb Genetics Corp. One agreement deals with not monopolizing the genetic engineering of crops by two specific methods. Another involves not keeping small seed companies from getting certain genes. There are patent issues involved as well. And there is now the purchasing power of the company whose merger with American Home Products Corp. fell through. This DeKalb purchase is valued at $2.3 billion.

Government regulation (cont), Nursery and Floriculture Production, Seeds, AGRICULTURAL PRODUCTION--CROPS, Product development, Mergers, acquisitions and divestments, Investigations, Genetic aspects, MTC, DEKALB Genetics Corp., Monopolies, SEEDB

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Monsanto says its corn resists the rootworm

Article Abstract:

Monsanto Co. announced that it is the first company to engineer corn that is resistant to the rootworm. The rootworm is an insect that causes corn crop damages of up to $1 billion a year. Corn is the largest crop in the US. There are several biotechnology companies that are working on the development of a corn plant that is resistant to rootworms. These firms believe that farmers would be willing to pay a high price for such corn seeds.

Comment:

Announced that it is the first company to engineer corn that is resistant to the rootworm

Product information, New Products/Services, Corn, Corn Farming, Article

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Dwayne Andreas retires as chairman of ADM, G. Allen Andreas to fill post

Article Abstract:

Archer-Daniels-Midland Co.'s 80-yr.-old CEO Dwayne O. Andreas is turning the reigns over to his nephew, 55-yr.-old Allen Andreas at the commodity processing firm in Decatur, Ill. The elder Andreas probably would have passed the reigns on to his son Michael if he had not been convicted in a price-fixing scandal. Michael's sentencing is scheduled for Feb. 26.

Comment:

CEO leaves his nephew in charge at Archer-Daniels-Midland

Food & Kindred Products, Food Manufacturing, FOOD AND KINDRED PRODUCTS, Executive changes & profiles, Officials and employees, Archer Daniels Midland Co., ADM, Commodities industry

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