Company Acquired By Date Date Value Terms/Details
Acquired** Or Merged With Announced Completed (M)
(Country) (Country)
I. BIOTECH
Blue Ridge Idexx Laboratories 9/98 10/98 $50 Idexx acquired 100% of Blue Ridge's
Pharmaceuticals Inc. outstanding stock for $50M in cash,
Inc.* notes and Idexx common shares; it also
granted 5-year warrants to buy 0.81M
Idexx shares at $31.59/share ($25.6M)
and agreed to issue 1.25M Idexx shares
over 5 years contingent on performance
milestones
DeKalb Genetics Monsanto Co. 2/98 11/98E $3,700 Monsanto already held 10% of
Corp. (NYSE:MTC) DeKalb's Class A voting shares and
45% of its Class B non-voting shares
in 2/98, when it said it was consider-
ing an offer to acquire the rest; the
definitive merger agreement was
reached in 5/98; Monsanto will pay
$100/share for the remaining stock;
the Roberts family, which owns 56%
of Class A stock, will tender its
shares; another 2.3M Class A shares
are subject to stock options, making
the total value $3.7B (Monsanto will
pay $2.5B for the shares it is buying);
Monsanto initiated its tender offer
5/15/98; because the Department of
Justice needs additional information,
the tender has been extended 3 times;
currently, the tender has been extend-
ed to 11/30/98, and Monsanto agreed
not to close the acquisition before
11/16/98
Dinamilho Carol Mycogen Corp. 4/98 4/98 ND Mycogen's acquisition of Dinamilho
Productos Agricolas was financed through a line of credit
Ltda. (Brazil) provided by Dow AgroSciences LLC
DNAP Holding Bionova Inter- 7/98 4/99E $30 Bionova will invest $30M in DNAP
Corp. (majority- national Inc. (wholly Holding in exchange for 5.2M shares
owned subsidiary owned subsidiary of at $5.75/share; also, once current
of Bionova Inter- Empresas La shareholders approve issuance of new
national Inc.) Moderna SA de CV; shares, they get the right to acquire 3
NYSE:ELM; Mexico) shares for every 4 now owned at $5.75
per share; Bionova's stake increases
from 70% to 80.6%
Hybridos Colorado Mycogen Corp. 9/98 9/98 ND Mycogen's acquisitions of Hybridos
Ltda. and FT Bio- Colorado and FT Biogenetica were
genetica de Milho financed through a line of credit pro-
Ltda. (Brazil) vided by Dow AgroSciences LLC
Mycogen Corp. Dow AgroSciences 1/98 10/98 $411.6 In 1/98, Dow AgroSciences raised its
LLC (wholly owned stake in Mycogen from 57.5% to 63%
subsidiary of the in exchange for $75M cash and Dow
Dow Chemical Co.; AgroScience's 16.25% equity stake in
NYSE:DOW) Verneuil Holdings (raising Mycogen's
stake in Verneuil from 18.75% to
35%); in 3/98, Pioneer Hi-Bred Inter-
national Inc. sold its remaining stake
in Mycogen (2M shares, stems from a
1995 collaboration) to Dow Agro-
Sciences for $40.1M ($20.06/share),
raising Dow AgroSciences' stake to
69%; in 7/98, Mycogen's board
approved an amendment to terms of
original agreement so that Dow could
acquire the rest of Mycogen before
2/99; the definitive agreement was
reached in 8/98, when Dow Agro-
Sciences initiated a $28/share tender
offer; 14.7M shares were tendered;
the offer closed 10/2/98 and the trans-
action is scheduled to close 10/30/98
Prisma Acquisition Synbiotics Corp. 3/98 3/98 $3 In connection with the acquisition,
Corp.* Synbiotics issued a $1M, 1-year note
and unregistered stock and stock op-
tions valued at $2M; Synbiotics will
license back the non-animal-health
rights for Prisma's blood chemistry
system to a new company owned by
Prisma's former shareholders
VetLife subsidiary Ivy Laboratories 4/98 4/98 $13 CytRx sold all the assets of its VetLife
of CytRx Corp. Inc. subsidiary for $7.5M (consisting of a
cash payment and a subordinated note);
CytRx will also get $5.5M contingent
on future product sales by Ivy
II. AGRIBUSINESS
Cargill Hybrid Hoechst Schering 9/98 11/98E $650 AgrEvo will acquire Cargill's North
Seeds North AgrEvo GmbH American seed assets for $650M
America (unit of (joint venture
Cargill Inc.) between Hoechst AG
and Schering AG;
Germany)
Cargill International Monsanto Co. 6/98 4Q:98E $1,400 Monsanto will buy Cargill's inter-
Seeds (unit of (NYSE:MTC) national seed operations for $1.4B
Cargill Inc.)
Delta & Pine Land Monsanto Co. 5/98 4Q:98E $1,900 Monsanto will acquire the 95.3% of
Co. (NYSE:DLP) (NYSE:MTC) Delta & Pine that it doesn't already
own in a stock swap; Delta & Pine
shareholders get 0.8625 Monsanto
share for 1 Delta & Pine share;
Department of Justice requested more
information in 8/98, extending the
waiting period to close
Monsanto Co. American Home 6/98 Terminated $34,000 This transaction was termed a merger
(NYSE:MTC) Products Corp. 10/98 of equals, but American Home share-
(NYSE:AHP) holders were to retain their shares
while Monsanto shareholders were to
get 1.15 shares in the new company
that was to be formed for each Mon-
santo share; Monsanto shareholders
were to own 35% of new company; the
merger was terminated by mutual consent
Plant Breeding Monsanto Co. 7/98 7/98 $522 Unilever sold Plant Breeding to Mon-
International (NYSE:MTC) santo for $522M cash
Cambridge Ltd.
(subsidiary of Unilever
plc; U.K.)
NOTES:
# This chart covers mergers and acquisitions announced between 1/1/98 and 10/19/98.
ND = Not disclosed, reported and/or available
** 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. 12-13.