Monsanto Slumps In Pre-Market On Acquisition News

Tue. December 02, 2008; Posted: 09:02 AM

(RTTNews) - Monsanto (MON | Quote | Chart | News | PowerRating) dipped in pre-market trading, after completing its proposed acquisition of CanaVialis and Alellyx.

The stock was down 31 cents around 9:00 am ET, easing to $70.84. If pre-market losses hold, the stock will open at its lowest level in a week.

Monsanto announced that it has completed its proposed acquisition of Aly Participacoes Ltda., which operates the sugarcane breeding and technology companies, CanaVialis S.A. and Alellyx S.A.

Monsanto's $290 million or R$616 million acquisition of Aly Participacoes Ltda. from Votorantim Novos Negocios Ltda. and its sister company, Votorantim Industrial S.A., was consummated with existing excess cash.

For full details on Monsanto Co (MON) click here. Monsanto Co (MON) has Short Term PowerRatings of 3. Details on Monsanto Co (MON) Short Term PowerRatings is available at This Link.

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