04 June 1998
Monsanto chairman poised for $75m windfall

ROBERT SHAPIRO, executive chairman of Monsanto, will receive a $75 million (£46m) windfall when the $100bn merger with American Home Products (AHP) is completed.

Shapiro will lead the combined group jointly with John Stafford, AHP executive chairman, for at least one to two years.

Meanwhile, the two groups have agreed to pay a $700m break-up fee if either finds another suitor. Zeneca is cited as one company that could be waiting in the wings.

  • Monsanto in £59bn Cyanamid merger, FWi, 1 June — Click here
  • The Times 04/06/98 page 28