Company Acquired (Country) |
Acquired by Or Merged With (Country) |
Date Announced |
Date Completed |
Value |
Terms/Details |
I. BIOTECH | |||||
Agrogene* (France) |
Celera AgGen (agricultural business of Celera Genomics Corp., which is a joint venture between Perkin-Elmer Corp. (NYSE:PKN) and The Institute for Genomic Research) |
3/99 |
3/99 |
ND |
Celera acquired 49% of the equity of Agrogene, an agricultural DNA testing laboratory |
HybriGene LLC* |
AgriBioTech Inc. (NASDAQ:ABTX) |
1/99 |
1/99 |
ND |
AgriBioTech purchased all outstanding shares of HybriGene, which held patents for site-specific recombination technology |
Xyris Corp. (majority-owned affiliate of Axys Pharmaceuticals Inc.) |
Global Agro Inc.* |
4/99 |
Pending |
ND |
All-stock transaction will result in the creation of a new company called Akkadix Corp. |
II. AGRIBUSINESS | |||||
AgrEvo (joint venture of Hoechst AG and Schering AG; Germany) |
Rhone-Poulenc Agro (unit of Rhone-Poulenc SA; NYSE: RP; France) |
12/98 |
Pending |
ND |
Merging of agricultural businesses is part of larger merger of Hoechst's and Rhone-Poulenc's life sciences businesses; companies will contribute all the assets of their respective agrobusinesses in a new entity, Aventis CropScience, with pro forma 1997 sales of US$4.5B |
Cargill Hybrid Seeds North America (unit of Cargill Inc.*) |
Hoechst Schering AgrEvo GmbH (joint venture between Hoechst AG and Schering AG; Germany) |
9/98 |
Terminated 2/99 |
$650M |
AgrEvo was to acquire Cargill's North American seed assets for $650M; companies set aside agreement, after sever-months' postponement, pending resolution of lawsuit filed against Cargill by Pioneer Hi-Bred International Inc. (NYSE:PHB) |
Pioneer Hi-Bred International Inc. (NYSE:PHB) |
DuPont (NYSE:DD) |
3/99 |
Pending |
$7.7B |
Pioneer shareholders would receive $40 per share; 45% of the shares will be exchanged for cash, 55% for DuPont stock; DuPont already owns 20% of Pioneer |
Rhone-Poulenc Yuka Agro, joint venture of Rhone-Poulenc Agro and Mitsubishi Chemicals (Japan) |
Rhone-Poulenc Agro (unit of Rhone-Poulenc SA; NYSE:RP; France) |
3/99 |
3/99 |
ND |
R-P Agro increased its stake to 80% (up from 50%) and plans to buy the remaining 20% in 1999 |
