Monsanto completes Delta and Pine Land purchase
Monsanto has completed its planned acquisition of the US cotton seed company, Delta and Pine Land (D&PL - Scott, Mississippi), for approximately $1,500 million. The move follows an agreement with the US Department of Justice (DoJ) to divest its existing branded US cotton seed business to address antitrust concerns. The company will sell its Stoneville brand and related assets to Bayer CropScience for $310 million. It is to sell its NexGen brand and germplasm to US cotton seed company Americot (Lubbock, Texas) for $6.8 million.