Through a series of transactions, the Monsanto that existed from 1901 to 2000 and the current Monsanto are legally two distinct corporations. Although they share the same name and corporate headquarters, many of the same executives and other employees, and responsibility for liabilities arising out of activities in the industrial chemical business, the agricultural chemicals business is the only segment carried forward from the pre-1997 Monsanto Company to the current Monsanto Company. This was accomplished beginning in the 1980s: 1985: Monsanto purchased G. D. Searle & Company for $2.7 billion in cash.[47][48] In this merger, Searles aspartame business became a separate Monsanto subsidiary, the NutraSweet Company. CEO of NutraSweet, Robert B. Shapiro, became CEO of Monsanto from 1995 to 2000. 1996: Acquired Agracetus, a majority interest in Calgene, creators of the Flavr Savr tomato, and 40% of DeKalb Genetics Corporation. It purchased the remainder of DeKalb in 1998.[49][50] 1997: Monsanto spun off its industrial chemical and fiber divisions into Solutia Inc.[51] This transferred the financial liability related to the production and contamination with PCBs at the Illinois and Alabama plants. In January, Monsanto announced the purchase of Holdens Foundations Seeds, a privately held seed business. By acquiring Holdens, Monsanto became the biggest American producer of foundation corn, the parent seed from which hybrids are made.[52] The combined purchase price was $925 million. Also, in April, Monsanto purchased the remaining shares of Calgene. 1999: Monsanto sold off NutraSweet Co. and two other companies. In December, Monsanto merged with Pharmacia & Upjohn, and the agricultural division became a wholly owned subsidiary of the new Pharmacia; the medical research divisions of Monsanto, which included products such as Celebrex, were rolled into Pharmacia.[53] 2000 (October): Pharmacia spun off its Monsanto subsidiary into a new company, the new Monsanto.[54] As part of the deal, Monsanto agreed to indemnify Pharmacia against any liabilities that might be incurred from judgments against Solutia. As a result, the new Monsanto continues to be a party to numerous lawsuits that relate to operations of the old Monsanto. (Pharmacia was bought by Pfizer in a deal announced in 2002 and completed in 2003.[55][56]) 2005: Monsanto acquired Emergent Genetics and its Stoneville and NexGen cotton brands. Emergent was the third largest U.S. cotton seed company, with about 12 percent of the U.S. market. Monsantos goal was to obtain a strategic cotton germplasm and traits platform.[57] The vegetable seed producer Seminis was purchased for $1.4 billion.[58] 2007: In June, Monsanto completed its purchase of Delta and Pine Land Company, a major cotton seed breeder, for $1.5 billion.[59] As a condition for approval of the purchase from the Department of Justice, Monsanto was obligated to divest its Stoneville cotton business, which it sold to Bayer, and to divest its NexGen cotton business, which it sold to Americot.[60] Monsanto also exited the pig breeding business by selling Monsanto Choice Genetics to Newsham Genetics LC in November, divesting itself of any and all swine-related patents, patent applications, and all other intellectual property.[61] 2008: Monsanto purchased the Dutch seed company De Ruiter Seeds for €546 million,[62] and sold its POSILAC bovine somatotropin brand and related business to Elanco Animal Health, a division of Eli Lilly in August for $300 million plus additional contingent consideration.[63] 2013: Monsanto purchased San Francisco-based Climate Corp for $930 million.[64] ask/wiki/Monsanto?o=2800&qsrc=999&ad=doubleDown&an=apn&ap=ask
Posted on: Tue, 03 Dec 2013 14:54:11 +0000
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