- Monsanto (MON +0.6%) pokes into the green after CEO Hugh Grant says it does not see "large-scale" acquisitions as a strategy, and instead will focus on R&D and commercial partnerships to bolster growth.
- "We no longer see large-scale M&A as a likely opportunity. Our strategy is not and was not dependent on large-scale M&A," CEO Hugh Grant said in the earnings conference call after reporting below consensus FQ2 earnings.
- Grant said MON now sees "partnerships and collaborations” as a more likely path to expand its presence in crop chemicals.
- The comments appear to signal the end of any lingering ambition to make another bid for a major crop chemicals or seeds business, after MON reportedly had been exploring potential deals with BASF and Bayer following last year's rejection of its $43.6B proposal to acquire Syngenta.
- Now read Monsanto indicates lower as FQ2 results miss expectations