Monsanto Company (MON) - NYSE
  • 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
  • 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
  • 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, 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
  • Fri, Jun. 10, 2:42 PM
    • Monsanto (MON -1.5%) turns sharply lower following a WSJ report that it rejected a new takeover offer from Bayer (OTCPK:BAYRY -3.4%), in part because it did not include a higher price.
    • Bayer recently sent a letter to MON seeking access to information which could prompt it to raise its $62B offer but MON refuses to grant access until Bayer raises its offer, according to the report.
    • In the letter, Bayer reportedly said it had lined up financing for the deal and is confident any regulatory obstacles can be overcome.
    | Fri, Jun. 10, 2:42 PM | 31 Comments
  • Tue, May 31, 12:19 PM
    | Tue, May 31, 12:19 PM | 11 Comments
  • Wed, May 25, 9:14 AM
    • Monsanto (NYSE:MON) +2.2% premarket as Jefferies upgrades shares to Buy from Hold with a $132 stock price target, raised from $95, seeing a $130/share or greater takeover by Bayer (OTCPK:BAYRY) as "highly likely."
    • MON's response to Bayer "was far from a full-throated defense" and "benign enough to open the door for more productive discussions," Jefferies notes.
    • The firm also believes favorable weather should drive price support for MON in 2017-20.
    • Now read Bayer says it can meet Monsanto deal demands
    | Wed, May 25, 9:14 AM | 12 Comments
  • Tue, May 24, 2:00 PM
    • Monsanto (MON +2.8%) officially rejects Bayer's (OTCPK:BAYRY +3.5%) $62B takeover offer, confirming earlier reports, but says it remains open to further talks on a deal; shares have reached their highs of the day after a brief trading halt.
    • MON calls the $122/share offer "incomplete and financially inadequate" that fails to address potential financing and regulatory risks, but also suggests that a higher bid might be accepted.
    • Fox Business News' Charles Gasparino reports that Bayer could go hostile in its bid for MON.
    | Tue, May 24, 2:00 PM | 3 Comments
  • Tue, May 24, 11:03 AM
    | Tue, May 24, 11:03 AM | 18 Comments
  • Tue, May 24, 10:36 AM
    • Bayer (OTCPK:BAYRY +2.5%) is maintained with a Buy rating and a €124 price target at Deutsche Bank, which says the proposed merger with Monsanto (MON +1.2%) “makes both operational and financial sense.”
    • The firm says Bayer’s shares could be significantly volatile in the near term as negotiations for MON play out, but the deal is a good strategic fit and is expected to be 11%-13% EPS accretive in 2019-20, which would contribute towards an annual earnings growth rate in the low-to-mid-teens.
    • Deutsche Bank believes a takeover price for MON below $140 per share is reasonable for Bayer, with accretion breakeven at $149-$158.
    | Tue, May 24, 10:36 AM | 3 Comments
  • Mon, May 23, 3:33 PM
    • Monsanto (MON +5%) is up 5% to ~$106.70 following Bayer's (OTCPK:BAYRY -4.5%) offer to buy the company, but that's well below the reported takeover price of $122 that Bayer says it is willing to pay, indicating skepticism that the deal will come to fruition.
    • Bayer's move defies sharp criticism from some investors (I, II) ahead of the official news of the offer, which CEO Werner Baumann describes as "an uneducated reaction in the media" when deal terms were not yet known, adding that "we are putting forward a very, very full price" for MON.
    • But Berenberg analyst John Klein says MON and its shareholders likely will argue that based on 2017 EBITDA expectations, the bid would represent a multiple of only 14x vs. the nearly 16x ChemChina agreed to pay for Syngenta.
    • Citi's P.J. Juvekar appears to reflect the consensus view that the chances of a deal becoming finalized have increased with a firm offer on the table but that the first offer likely will not get accepted.
    • Bloomberg's Brooke Sutherland believes MON's lack of an outright rejection could signal willingness to negotiate, knowing the 37% premium nearly gets investors back to MON's post-financial crisis high and more than makes up for the drop over the past year as slumping crop prices forced farmers to cut spending.
    | Mon, May 23, 3:33 PM | 10 Comments
  • Mon, May 23, 9:16 AM
    | Mon, May 23, 9:16 AM
  • Fri, May 20, 12:47 PM
    • India has tightened rules for the sale of GMO cotton seeds, in a move that will cap royalties for any new variety that Monsanto (MON +1.9%) - the market's sole supplier - decides to develop and sell, Reuters reports.
    • The new order is tougher than a March rule to cut royalties that local seed firms pay to MON's joint venture with India's Mahyco following complaints from domestic firms that the venture was overcharging for a gene that produces its own pesticide.
    • If MON decides to introduce any new, advanced variety of its GMO cotton, it cannot charge royalties more that 10% of the price of seeds, fixed at 800 rupees, for five years from the date of commercialization, according to the new ruling.
    • MON says it is evaluating the order.
    | Fri, May 20, 12:47 PM
  • Thu, May 19, 11:48 AM
    • A Monsanto (MON +4.9%) takeover by Bayer is considered "relatively unlikely" by Jefferies analyst Laurence Alexander, as he expects MON to object to the offer given its conviction in its R&D pipeline and longer-term competitive advantages.
    • Alexander thinks shares of Syngenta (SYT -0.5%) and DuPont (DD -0.7%) could be pressured as regulatory scrutiny likely would intensify if MON gets acquired, and BASF (OTCQX:BASFY -1.4%) could fall on investor concerns of a potential counter-bid.
    • But the analyst sees a potential MON takeover as positive for shares of Novozymes (OTCPK:NVZMY -0.1%) and FMC Corp. (FMC -0.7%), as "a further roll-up of 'specialty generic' agrichemical assets could entice capital, and FMC would be a plausible anchor for such an attempt."
    • Jefferies rates MON as a Hold with a $95 price target.
    • Now read Bayer investor "deeply concerned" about move for Monsanto
    | Thu, May 19, 11:48 AM | 8 Comments
  • Thu, May 19, 10:52 AM
    • Brazil is "the real opportunity" for growth in South America for Monsanto's (MON +5.2%) new Roundup Ready 2 Xtend soy technology, President Brett Begemann says following MON's suspension of the launch of the new variety of soybean seed in Argentina due to concerns over royalty payments.
    • In Brazil, after a long dispute over the issue, MON has negotiated agreements with soybean trading firms to collect royalties farmers typically pay to the company to save crops with genetically modified traits to reuse as seeds; but MON has been in a dispute with Argentina's government since March over the best way to inspect soy cargoes to ensure royalties have been paid on the company's Intacta variety of soybeans.
    • "We're not going to sit back and let Argentina steal technology and Brazil pay for it," Begemann tells Reuters.
    | Thu, May 19, 10:52 AM
  • Thu, May 19, 9:18 AM
    | Thu, May 19, 9:18 AM
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