bloyal (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} bloyal) wrote,@ 2006-06-28 11:58:00 |
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Big week in Creve Coeur
It has indeed been a big week at Monsanto, or at least a big Tuesday. Yesterday, the Ag-tech giant saw three positive news happenings:
So, all in all, a good day to be growing corn off of Lindbergh.
It has indeed been a big week at Monsanto, or at least a big Tuesday. Yesterday, the Ag-tech giant saw three positive news happenings:
- A French court of appeal convicted 49 anti-GM foods activists of organized vandalism for destroying a Monsanto-owned field of GM maize. This overturned an earlier ruling in December claiming the group's pillaging was justified because (great quote) "the unbridled distribution of modified genes... constitutes a clear and present danger for the well-being of others". You think the corn is bad, wait until the cloned sheep get a taste for humans...
- Due to their ever-growing portion of the global seed market, Monsanto announced on Tuesday that they will be splitting shares of their stock in a 2-for-1 deal. Basically, this puts their price more in line with their S&P 500 contemporaries, down around $40 per share. Of course, the price jumped 39 cents on the announcement, so we'll see how long it takes to double up again.
- Finally, on the same day, Monsanto issued another press release announcing that it's American Seeds subsidiary will be acquiring 5 high-profile corn and soybean distributors in Illinois, Iowa, and Indiana. In addition to squeezing out the competition (The release identifies the companies as representing 1.4 and 2% of the U.S. Corn and Soybean market, respectively) this will allow Monsanto to further increase their library of crop trait information.
So, all in all, a good day to be growing corn off of Lindbergh.
