Monsanto pledges more U.S. jobs

Article Excerpt

MONSANTO CO. $111 (New York symbol MON, Aggressive Growth Portfolio; Manufacturing & Industry sector; Shares outstanding: 436.8 million; Market cap: $48.5 billion; Price-to-sales ratio: 3.5; Dividend yield: 1.9%; TSINetwork Rating: Above Average; www.monsanto.com) develops and sells technology-based agricultural products, such as genetically modified seeds, to farmers, grain processors and food companies. It also provides weed and pest-control products. In September 2016, the company accepted a $128.00-a-share takeover offer from Bayer AG, the giant German chemical and pharmaceutical maker. The all-cash deal is worth $66 billion and includes Monsanto’s debt. The two companies aim to close the sale by the end of 2017. Monsanto’s stock continues to trade well below Bayer’s offer. That’s due to concerns that regulators in the U.S. and Europe may block the deal, or force the combined company to sell certain assets. To help win approval for the merger, Bayer and Monsanto have pledged to spend half of the new company’s research and development budget in the U.S. over the…