Monsanto Co. today announced that its Board of Directors unanimously views the Bayer AG proposal as incomplete and financially inadequate, but is open to continued and constructive conversations to assess whether a transaction in the best interest of Monsanto shareowners can be achieved.
Lagging sales of Monsanto’s new SmartStax corn hybrids and Roundup Ready 2 Yield soybean varieties have led the company to lower some seed prices as second quarter earnings dropped 19%.
Source: This article was published by the Des Moines Register
Monsanto Chief Executive Hugh Grant said Tuesday that the federal investigation into anticompetitive practices in the seed industry "is the result of the fact that we have grown quickly and have been very succcessful."
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