Monsanto Company (MON) - NYSE
  • Yesterday, 5:42 PM
    • An unapproved variety of genetically modified wheat developed by Monsanto (NYSE:MON) was discovered growing in a farm field in Washington state, the USDA says.
    • Department officials say they are testing the farmer’s commercial wheat harvest for the unapproved GMO wheat but so far have found none.
    • The finding is the third such incident since mid-2013, when similar genetically engineered wheat developed by MON was discovered growing on an Oregon farm, prompting some Asian countries to temporarily suspend U.S. wheat imports.
    | Yesterday, 5:42 PM | 4 Comments
  • Wed, Jul. 27, 1:56 PM
    • BASF (OTCQX:BASFY) and Bayer (OTCPK:BAYRY) cut the outlook for their agrochemicals businesses, which analysts say could add to the urgency for global consolidation that has swept the industry.
    • Both German companies reported Q2 earnings today that were hurt by lower demand for the herbicides and pesticides made by their crop sciences divisions, as a global slump in commodities prices hurts farmers’ incomes.
    • “The agriculture market has gotten more difficult and that can certainly be a trigger for market consolidation," says NordLB analyst Thorsten Strauss, adding that cheap financing conditions also play a role.
    • Bayer says full-year profit for its agrochemicals division likely will decline by a low-single-digit percentage, instead of rising as it had previously projected.
    • Monsanto’s (NYSE:MON) negotiating position in Bayer's takeover offer has not become stronger, according to Commerzbank's Daniel Wendorff, noting that Bayer can still argue that the weak market environment in crop science will persist.
    | Wed, Jul. 27, 1:56 PM | 3 Comments
  • Fri, Jul. 22, 9:13 AM
    • Monsanto (NYSE:MON) says the European Commission has granted import approval for Roundup Ready 2 Xtend soybeans, allowing for the import and food/feed use of the new genetically modified soybean into the EU.
    • The Commission's OK comes after EU member states had failed to reach an agreement on whether to license the product.
    • The ruling removes uncertainty for MON, which already had sold the seeds to farmers this year, and for grain companies, some of which had refused to purchase the soybeans from farmers without approval from the EU.
    • MON +0.8% premarket.
    | Fri, Jul. 22, 9:13 AM
  • Wed, Jul. 20, 8:57 AM
    • One of Bayer's (OTCPK:BAYRY) top 20 shareholders says it may make sense to launch a hostile takeover bid for Monsanto (NYSE:MON) after the U.S. company rejected a sweetened $125/share offer yesterday.
    • "Such a move would be seen as hostile but could put pressure on Monsanto's management to grant Bayer access to its books," Markus Manns of Union Investment tells WSJ; Union is Bayer's 14th largest investor with a 0.7% stake.
    • Manns says Bayer has room to improve its offer to a maximum of $135/share, but a higher number would make an acquisition too much of a financial risk; he does not agree with fellow investor Henderson Global Investors, which is urging Bayer to put the deal to a shareholder vote.
    | Wed, Jul. 20, 8:57 AM | 5 Comments
  • Tue, Jul. 19, 8:13 AM
    • Monsanto (NYSE:MON) -1.6% premarket after rejecting Bayer’s revised takeover proposal is "financially inadequate and insufficient to ensure deal certainty."
    • However, MON says it "remains open to continued and constructive conversations with Bayer and other parties" to assess whether a deal can be fulfilled in the best interest of its shareowners.
    • The rejection should not come as a surprise, since most observers have believed MON would require a better offer than $125/share before agreeing to a sale (I, II, III).
    | Tue, Jul. 19, 8:13 AM | 5 Comments
  • Tue, Jul. 19, 7:57 AM
    • Bayer (OTCPK:BAYRY) investor Henderson Global Investors is demanding a vote on the company's $64B-plus proposed takeover of Monsanto (NYSE:MON), marking the strongest opposition from the investor base against the deal.
    • Henderson, one of Bayer's 20 largest investors with a 0.7% stake, says the bid for MON represents "a major departure from a strategy of focus and integration of existing acquisitions" that Bayer had consistently communicated to the market for a number of years.
    • Henderson also says the deal terms reflect a very high valuation multiple and the deal could constrain investment in the pharma division.
    • Bayer has repeatedly said it does not need shareholder approval for the deal, which would make any dissenting move more complicated.
    | Tue, Jul. 19, 7:57 AM | 5 Comments
  • Mon, Jul. 18, 5:19 PM
    • Monsanto (NYSE:MON) is negotiating terms on a confidentiality agreement with Bayer (OTCPK:BAYRY) that would allow extensive due diligence, a move that may indicate some progress as a result of Bayer's latest takeover offer, Reuters reports.
    • Access to confidential information has been a major sticking point in Bayer's negotiations with MON ever since it extended its first takeover offer in May.
    • MON would still require Bayer to raise its offer further in order to agree to a sale, according to the report.
    • Bayer last week improved its offer to $125/share in cash from $122 and offered a $1.5B reverse antitrust breakup fee.
    | Mon, Jul. 18, 5:19 PM | 4 Comments
  • Mon, Jul. 18, 11:14 AM
    • Monsanto (MON +0.2%) will not sell itself for less than $130/share, which concerns Bayer (OTCPK:BAYRY -0.7%) investors who worry about the price that could be needed to get the deal done, Handelsblatt reported overnight.
    • Last week, Bayer sweetened its offer to $125, which MON says it is evaluating after rejecting the company’s $122 offer in May.
    • Analyst Brett Wong at Piper Jaffray says a price closer to $140 is needed to consummate the deal; portfolio manager Jim Russell of Bahl & Gaynor agrees, saying Bayer needs to come back at least once more with a higher price.
    | Mon, Jul. 18, 11:14 AM | 14 Comments
  • Fri, Jul. 15, 10:10 AM
    | Fri, Jul. 15, 10:10 AM | 50 Comments
  • Fri, Jul. 15, 5:14 AM
    • Even though Bayer (OTCPK:BAYRY) has sweetened the pot in its attempt to win Monsanto (NYSE:MON), analysts suggest the company is likely to reject the roughly $65B offer and could pursue other transactions such as combining with BASF's (OTCQX:BASFY) agro-chemicals unit.
    • "I don't think they believe selling for $125 (per share) today is in the best interests of shareholders... and I do believe they are still considering being a consolidator and not a consolidee," said Chris Kapsch, analyst at BB&T Capital Markets.
    | Fri, Jul. 15, 5:14 AM | 13 Comments
  • Thu, Jul. 14, 12:12 PM
    • Monsanto (MON +3.2%) spikes higher after Bayer (OTCPK:BAYRY -0.6%) says it increased its takeover offer for the company to $125/share, after its initial $122 bid was rejected.
    • The new offer may make a takeover more palatable for MON shareholders but also prompt concerns among Bayer investors about the German company's deepening financial strain.
    • Bloomberg reported yesterday that MON had revived talks with BASF (OTCQX:BASFY +3.4%) about a possible combination of their agrochemicals businesses.
    | Thu, Jul. 14, 12:12 PM | 22 Comments
  • Thu, Jul. 14, 3:54 AM
    • BASF (OTCQX:BASFY) has declined to comment on a report Monsanto (NYSE:MON) is looking into a series of possible deals, including the potential acquisition of its agrochemicals unit.
    • The news comes after Monsanto rejected a buyout offer from a different Germany company - Bayer (OTCPK:BAYRY) - back in May.
    • BASF shares are in the green this morning, up 3% in Frankfurt, but the wider DAX is on the march higher too.
    | Thu, Jul. 14, 3:54 AM | 1 Comment
  • Wed, Jul. 13, 5:17 PM
    • Monsanto (NYSE:MON+1.7% AH following a Bloomberg report that it could look to acquire BASF's (OTCQX:BASFY) agrochemicals unit as an alternative to the proposed and rejected takeover offer from Bayer (OTCPK:BAYRY).
    • MON is exploring various transactions, including the potential acquisition of BASF’s ag solutions unit, and in return, BASF likely would receive newly issued shares in MON, according to the report.
    • MON’s board is said to be split over the merit of potential deals with rivals BASF and Bayer, with some execs eager to remain independent while others prefer a takeover.
    | Wed, Jul. 13, 5:17 PM | 12 Comments
  • Wed, Jun. 29, 6:27 PM
    • Monsanto (NYSE:MON) finished 2.4% higher in today's trade even after FQ3 earnings fell short of expectations, as some observers expect the weak results to help push the company into a deal with Bayer (OTCPK:BAYRY).
    • "The combination of weak results and a weaker than expected outlook suggests a more conciliatory tone will be taken to merger proposals," says Jefferies analyst Laurence Alexander, who expects "a modestly better proposal (e.g. break-up fee, antitrust tactics) before Monsanto's annual meeting" in January.
    • MON is playing a weak hand, Bloomberg's Chris Hughes writes, as a stronger set of numbers would have given Bayer an impetus to raise its buyout offer, but for now, Bayer's only reason for doing so is fear that MON might do a deal with someone else, such as Bayer's German rival BASF.
    • Even so, Germany newspaper Handelsblatt reported today that MON has demanded that Bayer increase its takeover offer by $10-$15/share, which would lift MON's valuation to $67B-$69B from Bayer's rejected $62B; the report also said the U.K.'s vote to leave the EU could put Bayer's planned financing of the deal into question.
    | Wed, Jun. 29, 6:27 PM | 17 Comments
  • Wed, Jun. 29, 9:19 AM
    • Monsanto (NYSE:MON+3.8% premarket after FQ3 earnings and revenues came in below Wall Street estimates amid “an unforeseen level of challenges affecting our business.”
    • Revenue for the quarter fell to $4.19B from $4.58B a year ago, with corn seed and traits revenue of $1.59B missing expectations of $1.66B and agricultural productivity revenue of $982M falling short of the $1.12B consensus estimate.
    • MON says it expects FY 2016 adjusted EPS to come in at the low end of previous guidance of $4.40-$5.10 vs. $4.65 analyst consensus estimate.
    • MON says it sees signs of positive resolution for several headwinds, including the expected 18-month extension of glyphosate authorization by the European Commission, anticipated EU approval for the Roundup Ready 2 Xtend stacked trait, and Argentina's recently announced interim policy that supports mandatory testing as well as intent to seek a long-term solution that will support investment.
    • While providing no formal update on the Bayer proposal, CEO Hugh Grant says he has been in personal discussions with Bayer management over several weeks, "along with others regarding alternative strategic options."
    • However, MON's worse than expected results will undercut the company’s argument that Bayer’s proposed $122/share takeover is less than adequate.
    | Wed, Jun. 29, 9:19 AM | 1 Comment
  • Wed, Jun. 29, 8:07 AM
    • Monsanto (NYSE:MON): FQ3 EPS of $2.17 misses by $0.23.
    • Revenue of $4.19B (-8.5% Y/Y) misses by $300M.
    • Shares -0.7% PM.
    • Press Release
    | Wed, Jun. 29, 8:07 AM | 13 Comments
Company Description
Monsanto Co. provides agricultural products for farmers. Its seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity and produce better foods for consumers and better feed for animals. Monsanto operates its business through the following... More
Industry: Agricultural Chemicals
Country: United States