Bayer acquires Monsanto cotton seeds for $310m

19 June 2007 16:55  [Source: ICIS news]

LONDON (ICIS news)--Bayer CropScience has completed the acquisition of Stoneville Pedigree Seed Company from Monsanto for $310m (€224m), its parent group Bayer said on Tuesday.

 

Bayer said acquiring the Memphis-based company would enhance the fast-growing US cotton seed business for Bayer CropScience – the second largest cotton seed supplier in North America.

 

The Bayer group raised its earnings guidance for 2007 and 2009 on Tuesday due to improved earnings prospects for its healthcare business.

 

($1 = €0.75)

By: Mark Watts
+44 20 8652 3214

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