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DuPont, Monsanto deal?
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March 3, 1999: 7:36 a.m. ET
Report: chemicals giant in talks on $28B merger with seeds group
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LONDON (CNNfn) - Agricultural products powerhouse Monsanto is in preliminary merger negotiations with DuPont, according to a newspaper report Wednesday.
The New York Times reported that St. Louis-based Monsanto is searching for a way it can be acquired by DuPont, but still retain its individual corporate culture. The newspaper quoted sources close to the discussions as saying that talks were only at an early stage, with no guarantee of a positive result.
An earlier deal between Monsanto and American Home Products (AHP), worth about $34 billion, fell apart because of differences in the corporate cultures.
Neither company would comment on the talks, the newspaper reported.
On Tuesday, Monsanto's stock slid 15/16 to 44-3/8. Dupont was off 1-1/8 to 51-5/16.
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Monsanto
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