Monsanto shares rise on DuPont rumour
SHARES in Monsanto rose sharply after newspaper reports of a possible merger with the US chemicals group DuPont.
Rumours of a merger have been circulating for some time after the failure of Monsantos proposed merger with American Home Products.
Speculation has mounted because of some obvious synergies between the two companies and DuPonts statement that it wants to become involved in biotechnology.
On the agricultural genetics side, DuPont has already invested about $1.7 billion (£1bn) in a broad technology alliance with, and a minority stake in, Pioneer Hi-Breed, the largest corn supplier in North America and business rival of Monsanto.
There is obvious logic for Monsanto in a tie-up. It is smaller than many of its competitors in both pharmaceuticals and biotechnology.
- Monsanto and Zeneca named as possible bolt-ons for DuPont, FWi, 20 May, 1998
- The Times 04/03/02/99 page 27
- The Independent 04/03/02/99 page 16 (Briefing)
- Financial Times 04/03/99 page 36 (News Digest)
- The Guardian 04/03/99 page 19