Yesterday, 5:30 PM
Mon, Oct. 5, 10:54 AM
- Nineteen European Union member states have requested opt-outs for all or part of their territory from cultivation of a Monsanto (MON +1.2%) genetically modified crop which is authorized to be grown in the EU.
- The requests are for opt-outs from the approval of MON's maize MON 810, the only crop commercially cultivated in the EU.
- Under a law signed earlier this year, individual countries can seek exclusion from any approval request for GMO cultivation across the 28-nation EU.
Thu, Sep. 24, 7:50 AM
- Monsanto (NYSE:MON) plans to offer worried shareholders a new corporate vision in "big data" after it abandoned a $46B bid last month to buy Syngenta.
- Executives are re-positioning the company as a business built on data science and services, not just chemicals, seeds and genetic traits, Monsanto CTO Robert Fraley told Reuters.
- The company’s top executives are now sketching plans for the vision ahead of a November investor meeting at the company's St. Louis headquarters.
Mon, Sep. 14, 11:15 AM
- With market eyes on a Fed rate-hike decision considered to be a bit of a toss-up amid differing opinions, Goldman Sachs is banking on the (slightly) more dovish position that the agency will wait until December. The bank is still laying out how to play the hike when it invariably comes.
- Strength in balance sheets is what you need, it says, noting that those companies outperform (by an average 5%) in the three months after a rate-boosting cycle begins. In Goldman's "High Quality Stock" basket: CMG, DLTR, PEP, KMI, BLK, GOOG, AAPL, PCLN, ORCL, WFC.
- Meanwhile, it suggests avoiding companies with high floating-rate debt as they bear the brunt of a move away from near-zero interest rate policy. "When the tightening cycle finally starts, the immediate impact will be felt by firms with high proportions of variable rate borrowing."
- Included in that "avoid" list: CL, COL, JNJ, AAPL, EBAY, MET, KO, GIS, F, MCD, GM, TWX, CVX, AGN, MON.
- (Yes, cash-rich Apple made both lists, having a strong balance sheet along with floating debt.)
Thu, Sep. 10, 4:43 PM
- A French court upholds a 2012 ruling in which Monsanto (NYSE:MON) was found guilty of chemical poisoning of a French farmer, who says he suffered neurological problems after inhaling the company's Lasso weedkiller.
- The decision by an appeals court confirms the initial judgment that ruled MON was responsible for the intoxication and ordered the company to "fully compensate."
- MON says it will bring the decision before France's highest appeal court.
- MON phased out Lasso in the U.S. several years ago for commercial reasons.
Thu, Sep. 3, 3:28 AM
- Looking to appease shareholders after rejecting a $47B takeover attempt from Monsanto (NYSE:MON), Syngenta (NYSE:SYT) is planning to buy back more than $2B of shares and sell its global vegetable seeds business.
- "The board and management are determined to accelerate shareholder value creation and our actions today underpin our commitment to do so," Chairman Michel Demare said in a statement.
- Syngenta's share repurchase program will begin in the coming weeks.
Thu, Aug. 27, 3:04 AM
- Having ditched its $46B offer for Syngenta (NYSE:SYT), Monsanto (NYSE:MON) may look to downshift beefing up its crop protection portfolio through humbler acquisitions, partnerships and licensing agreements.
- "If we don't acquire Syngenta, we'll still be on Plan A," Monsanto's Michael Frank said last month. "It won't be Syngenta. It will be somebody else, or somebodies else."
- Monsanto's $46B bid is the largest deal to be pulled since the withdrawal of Valeant's $54B offer for Allergan last November.
- Previously: Syngenta must explain "Plan B" after Monsanto pulls deal, investors say (Aug. 26 2015)
- Previously: Monsanto's "discipline," commitment to resume buybacks pleases analyst (Aug. 26 2015)
Wed, Aug. 26, 4:58 PM
- Monsanto (NYSE:MON) finished +8.5% today after dropping its bid for Syngenta, and Citigroup maintains its Buy rating on the stock as management "showed discipline" by ending the process.
- With the offer now off the table, MON said it plans to resume repurchasing its own shares, and Citi says the commitment to return capital to shareholders could alleviate fears that MON will quickly undertake another major transaction; MON has ~$4B remaining on its two-year, $10B share repurchase program announced in mid-2014.
- Although the macro ag backdrop is challenging with farm incomes falling and low grain prices, Citi says MON remains "well positioned as the strongest seed company with the best R&D pipeline in the industry."
Wed, Aug. 26, 12:40 PM
- Syngenta (SYT -11.5%) shareholders are calling on the board to clarify how it intends to make up billions of dollars of lost shareholder value after Monsanto (MON +8.6%) abandoned its takeover bid.
- "We need the board and the management to explain their Plan B," says Pauline McPherson, co-fund manager of Kames Capital's global equity fund, which holds SYT shares.
- Other investors question why SYT's management were so reluctant to open their books
- MON's $46B bid is the largest pulled deal since Valeant Pharma's November 2014 withdrawal of its $54B offer for Allergan.
Wed, Aug. 26, 10:52 AM
- Monsanto (MON +6.5%) says it is no longer pursuing a combination with Syngenta (SYT -15%) after a new bid was rebuffed; shares resume trading after a halt.
- MON says SYT has told it that the company's enhanced proposal did not meet expectations, thus it will continue to focus on growth opportunities built on its existing core business.
- MON says its latest proposal increased the cash component of the proposed takeover to 245 Swiss francs/share and maintained the same number of shares as in its April proposal; the revised proposal translated to a value of 470 Swiss francs/share.
Tue, Aug. 25, 2:14 PM
- Monsanto (MON -2.8%) and Syngenta (SYT -3.1%) are sharply lower after CNBC's David Faber reported earlier about growing opposition among MON shareholders to its continued approach for SYT.
- Reports yesterday indicated that MON had increased its offer for SYT to 470 Swiss francs, up from 449 earlier, and upped its break-up fee by $1B to $3B.
- Faber says he is "hearing significant opposition" to the deal from some major MON shareholders and expects them to relay their concerns to the company soon.
Mon, Aug. 24, 12:23 PM
- Syngenta (SYT +9.3%) spikes higher after Bloomberg reports that Monsanto (MON -1.2%) has made an increased takeover offer to the Swiss company in the hopes of enticing it the negotiating table after MON's earlier approach was rejected.
- The latest offer values SYT at ~470 Swiss francs/share ($503) in cash and stock, compared with the 449 francs MON offered earlier this year, according to the report.
- MON's proposal is said to contain a higher proportion of cash than the prior bid, which envisioned a split of 45% cash to 55% shares, and its proposed fee to be paid if antitrust regulators block the deal has increased to $3B from the previously promised $2B.
Wed, Aug. 5, 2:04 AM
- Are they, or aren't they? Conflicting reports have surfaced over whether Monsanto (NYSE:MON) and Syngenta (NYSE:SYT) are still in merger talks.
- Some suggest that the two are close to a deal on price, while others state they are not even in negotiations at this time.
- Syngenta previously rejected Monsanto's $45B takeover offer in June.
Tue, Aug. 4, 5:30 PM| Tue, Aug. 4, 5:30 PM | Comment!
Tue, Aug. 4, 12:10 PM
Tue, Aug. 4, 7:59 AM
- Monsanto's (NYSE:MON) unwanted takeover bid with Syngenta (NYSE:SYT) would face strong resistance in Brazil if it goes forward, a hurdle that could delay or force major concessions to the $45B deal, Reuters reports.
- Brazil, the second-largest market for both companies, is likely to surpass the U.S. as the world's top soybean producer in the coming years, while its tropical climate makes it an enormous pesticide consumer.
- Brazil's regulator, Cade, could spend up to a year, the maximum time allowed, analyzing any potential deal, says one Sao Paulo-based antitrust lawyer.
- Brazilian farmers are opposed to the deal, says the head of Brazil's main farmers' lobby, and the group would closely monitor Cade's evaluation of any merger proposal and could take additional legal measures.
MON vs. ETF Alternatives
Monsanto Co is a provider of agricultural products for farmers. The Company offers corn, soybean, cotton, wheat, canola, sorghum and sugar cane seeds. Its segments are Seeds and Genomics and Agricultural Productivity.
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