Cottonseed company sues Monsanto
US life sciences group Monsanto is facing a $1bn damages claim for not completing a merger deal.
Cottonseed specialist Delta & Pine claims that Monsanto breached a contract to use “commercially reasonable” efforts to gain antitrust clearance for the deal.
Monsanto announced in May 1998 it would acquire Delta. The deal was held up for four months by the US department of justice.
- Monsanto to sell GM business, FWi, 20 December 1999
- Researchers call for ban on terminator gene, FWi, 04 November 1998
- Monsanto snaps up two biotech firms for $4bn, FWi, 12 May 1998
- Financial Times 19/01/2000 page 34