Company Acquired** (Country) | Acquired By Or Merged With (Country) | Date Announced |
Date Completed/Terminated@ | Value ($M) |
Terms/Details |
PENDING AND COMPLETED | |||||
Hoechst AG (including Hoechst Schering AgrEvo, a joint venture of Hoechst and Schering AG; both of Germany) |
Rhone-Poulenc S.A.'s agricultural enterprises (France; NYSE:RP) |
12/98 |
12/99 | 22,000 |
Merging of agricultural businesses is part of larger merger of Hoechst's and Rhone-Poulenc's life sciences businesses into Aventis SA (NYSE:AVE); they will combine the assets of their respective agrobusinesses into three businesses: Aventis CropScience (in which Schering will hold a 24% stake), Aventis Animal Nutrition, and Merial (a 50-50 joint venture with Merck & Co. Inc.) |
Maize Genetics Resources Inc.* |
Akkadix Corp. | 11/99 |
11/99 | ND | Akkadix acquired assets of MGR, including breeding materials, inbred lines and and technology for inbred development; simultaneous with the acquisition, Akkadix created a subsidiary called Akkadix Genetics Inc. |
Monsanto Co. (NYSE:MTC) |
Pharmacia & Upjohn (NYSE: PNU) | 12/99 | 2Q:00E |
50,0001 | Merger of equals transaction in which Monsanto shareholders will end up with 51% of combined company's shares, though company will be called Pharmacia and will be headquartered in Peapack, N.J., P&U's home city; companies had pro forma estimated 1999 sales of $17B and a market capitalization of more than $50B; in conjunction with the merger, an initial public offering of up to 19.9% of the agricultural business is planned |
Pioneer Hi-Bred International Inc. | E.I. DuPont de Nemours (NYSE: DD) |
3/99 | 10/99 | 7,700 | Stock and cash merger that resulted in DuPont acquiring the 80% of Pioneer it did not already own |
PlantTec Biotechnologie GmbH* (Germany) | Hoechst Schering AgrEvo GmbH (Germany; now part of Aventis CropScience; see Hoechst AG entry above) | 9/99 |
9/99 | ND | AgrEvo raised its share from 20% to 95% in PlantTec, whose core business is the improvement of carbohydrate metabolism in plants |
Global Agro Inc.* |
Xyris Corp. (majority-owned subsidiary of Axys Pharmaceuticals Inc.) |
4/99 |
9/99 | ND | All-stock transaction created Akkadix Corp., which aims to discover genes and characterize genes for improved plant traits |
Zeneca Agrochemicals (unit of Astra-Zeneca plc; UK) |
Novartis Crop Protection and Novartis Seeds (units of Novartis AG; Switzerland) |
12/99 | 2Q:00E | $15,0001 | Boards of parent companies agreed to spin off and merge Novartis Crop Protection and Seeds and Zeneca Agrochem-chemicals to create agribusness company with combined 1998 sales of $7.9B; new company will be named Syngenta AG and headquartered in Basel, Switzerland; Novartis shareholders will receive 61% of shares and AstraZeneca shareholders will receive 39%; Novartis' Animal Health busness and AstraZeneca's 50% holding in Advanta are not included |
TERMINATED | |||||
Delta and Pine Land Co. (NYSE:DLP) |
Monsanto Co. (NYSE:MTC) |
5/98 | Terminated 12/99 |
1,900 | Monsanto paid $81M termination fee to cancel merger with Delta Pine |
NOTES: | |||||
@ The dates listed are the dates of press releases. They are not necessarily the dates on which transactions took place. | |||||
1 Estimated market capitalization of merged companies. | |||||
* Private companies are indicated with an asterisk. | |||||
** Unless otherwise noted, the trading symbols for public biotechnology companies can be found by referring to the BioWorld Stock Report For Public Biotechnology Companies on pp. 15-16. | |||||
AMEX = American Stock Exchange; NYSE = New York Stock Exchange; TSE = Toronto Stock Exchange | |||||
