monsanto co (MON) Key Developments
Monsanto Company Presents at UBS Best of Americas Conference, Sep-12-2013
Nov 27 13
Monsanto Company Presents at UBS Best of Americas Conference, Sep-12-2013 . Venue: UBS Offices, London, United Kingdom.
Monsanto Invests USD 67 Million at Hungary Seed Plant
Nov 7 13
Monsanto inaugurated a USD 67 million expansion at its seed plant in Nagyigmand (N Hungary). Output of seed for maize and rapeseed at the plant, which Monsanto Hungaria bought from IKR, was doubled.
Monsanto Co Provides Updates on Lawsuit
Oct 31 13
The Louisiana Court of Appeal reversed the trial court's order denying exceptions of prematurity and for a stay pending arbitration in a redhibition action, ruling in part that the disparity in the parties' bargaining position did not render the arbitration clause at issue unenforceable. William Michael Hanlon and other cotton farmers in Louisiana filed a redhibition action against Monsanto Co. and other manufacturers of Delta Pine 0949 B2RF cottonseed and sellers of the seed. The complaint alleged the seed was defective. Monsanto filed an exception of prematurity, or alternatively, a motion to stay on the ground that each of the plaintiffs agreed to arbitrate disputes by executing a technology/stewardship agreement. The plaintiffs submitted affidavits stating they signed the agreement because they had to do so to purchase the seed and they did not understand or consent to the arbitration clause. The trial court denied Monsanto's motions, holding the arbitration clause was unenforceable. Specifically, the trial court found there was a lack of mutuality based on the superior bargaining strength of Monsanto. Monsanto appealed. In stating they had no choice but to sign the agreement, the plaintiffs raised a contract of adhesion issue. They contended the small print of the agreement and the lack of distinguishing features called into question their consent to arbitration. The court of appeal found the agreement's font size was not unreasonably small. Also, the arbitration clause was not concealed within the text of the agreement. The clause appeared on the second page of a four-page document and the heading was in bold-faced, capitalized letters. Finally, the arbitration clause was written in clear and unambiguous language. Other than the affidavits, the plaintiffs did not present evidence showing that no other supplier sold the seed at issue. There was also no evidence that Monsanto's seed was so necessary that the plaintiffs were compelled to enter into the agreement.
Monsanto Company - Shareholder/Analyst Call
Oct 30 13
To discuss the company's strategic initiatives, financial targets, product performance, research and development pipeline and other matters related to the company's business
Monsanto Co. Extends Partnership with Evogene
Oct 28 13
Monsanto Co. has extended its partnership with Evogene Ltd. The collaboration, initially signed in 2008, has focused on identifying key plant genes related to yield, environmental stress and fertilizer utilization in corn, soybean, cotton and canola. The new agreement extends the partnership to August 2016, and adds a new five-year program for the identification of genes providing resistance to Stalk Rot disease in corn, caused by a certain type fungi called Fusarium.Through the combination of Evogene's gene discovery technologies with Monsanto's trait development expertise, this collaboration is focused on developing new tools that help farmers drive yields even further. The prior agreement included a put option giving Evogene the right, under defined conditions, to sell 1 million Evogene shares to Monsanto at $12 per share. That agreement has been canceled and replaced with a new $12 million put option under which shares will be sold at market value at time of exercise, subject to set minimum and maximum prices.