Monsanto tipped to buy PBI - Farmers Weekly

Subscribe and save

Farmers Weekly from £133
Saving £46
In print AND tablet

SUBSCRIBE NOW

sub_ad_img

Monsanto tipped to buy PBI

26 May 1998
Monsanto tipped to buy PBI

UNILEVERS Plant Breeding International (PBI) could be sold to Monsanto for hundred of millions of pounds, reports The Guardian.

PBI is described as a world centre of excellence in the field of developing and marketing varieties of wheat, oats, barley, potatoes and other seeds.

Formerly a Government-owned enterprise PBI, as it is now known, was sold to Unilever in 1987 for £66 million. The reason why the business can now fetch such a high price, despite the fact that its annual turnover is just £16m, is that companies involved in genetic modification want to base their work on the best available crops and are therefore prepared to pay top dollar.

Zeneca, Dupont and Novartis are also thought to be likely bidders but Monsanto has outbid rivals for other seed companies in recent months.

  • The Financial Times 25/05/98 page 20
  • The Guardian 26/05/98 page 19

    Read more on:
  • News

Monsanto tipped to buy PBI

26 May 1998
Monsanto tipped to buy PBI

UNILEVERS Plant Breeding International (PBI) could be sold to Monsanto for hundred of millions of pounds.

    Read more on:
  • News

Monsanto tipped to buy PBI

26 May 1998
Monsanto tipped to buy PBI

UNILEVERS Plant Breeding International (PBI) could be sold to Monsanto for hundred of millions of pounds, reports The Guardian.

PBI is described as a world centre of excellence in the field of developing and marketing varieties of wheat, oats, barley, potatoes and other seeds.

Formerly a Government-owned enterprise PBI, as it is now known, was sold to Unilever in 1987 for £66 million. The reason why the business can now fetch such a high price, despite the fact that its annual turnover is just £16m, is that companies involved in genetic modification want to base their work on the best available crops and are therefore prepared to pay top dollar.

Zeneca, Dupont and Novartis are also thought to be likely bidders but Monsanto has outbid rivals for other seed companies in recent months.

  • The Financial Times 25/05/98 page 20
  • The Guardian 26/05/98 page 19

    Read more on:
  • News
blog comments powered by Disqus