Monsanto is now able to complete its purchase of Delta and Pine Land Company. The U.S. Department of Justice (DOJ) gave approval with special terms for the purchase to move ahead. Monsanto will be required to divest certain assets including its U.S. branded cotton seed business.
In a news release, Monsanto states that the acquisition of Delta and Pine Land "will accelerate the discovery and delivery of new innovation to cotton farmers and the cotton industry."
According to the DOJ agreement with Monsanto, Monsanto will sell Stoneville cotton seed brand to Bayer CropScience for $310 million. Included in this exchange are other cotton parental lines from Delta and Pine Land. Monsanto also is selling its NexGen cotton seed brand for $6.8 million to Americot. Another provision in the agreement states that Monsanto will provide to Syngenta certain germplasm in Delta and Pine Land’s breeding pipeline that contains VIPCot trait technology.