American Home Products' deal with Monsanto collapses

Article Abstract:

The proposed $34.4 billion merger between the Monsanto Company and the American Home Products Corporation was terminated by both companies. The collapse of the merger signaled the third time that a major pharmaceutical combination was unsuccessful in 1998. Both firms stated that they terminated the deal because it was not in their stockholders' best interests. However, insiders said that the deal fell apart because of a power struggle between Monsanto's chairman, John R. Stafford, and American Home Products' chairman, Robert B. Shapiro.

Comment:

Proposed $34.4 bil merger between the Monsanto Company and the American Home Products Corporation terminated by both cos

Drugs & Pharmaceuticals, Pharmaceutical and Medicine Manufacturing, Company Planning/Goals, Drugs, Monsanto Co., Wyeth, Article

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DuPont buying top supplier of farm seed; $7.7 billion for Pioneer Hi-Bred, a leader in plant biotechnology

Article Abstract:

In furthering its efforts to become stronger in the life sciences, DuPont will acquire the remaining 80% of Pioneer Hi-Bred International for $7.7 billion worth of stock and cash. DuPont already owns 20% of the Des Moines seed giant. This acquisition seems to say there will be no joining of DuPont with Monsanto because of obvious antitrust problems.

Comment:

Company furthers its life sciences goals buying Pioneer Hi-Bred

Asset sales & divestitures, CHEMICALS AND ALLIED PRODUCTS, Nursery and Floriculture Production, AGRICULTURAL PRODUCTION--CROPS, Seeds, Flowers & Bulbs, Mergers, acquisitions and divestments, Abstract, Chemical industry, Horticultural products, E.I. du Pont de Nemours and Co., Pioneer Hi-Bred International Inc., PHB, Seed industry, DD

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