Notable Mergers and Acquisitions of the Day 11/03: MON, CPHD
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- Monsanto Company (NYSE: MON) today announced that it is investing in a new large-acre row crop, sugarcane, to diversify its existing core crop portfolio and to leverage its experience in bringing innovations to the agricultural marketplace through breeding and biotechnology. Monsanto announced today that it has entered into a definitive agreement to acquire Aly Participacoes Ltda., which operates the sugarcane breeding and technology companies, CanaVialis S.A. and Alellyx S.A., both of which are based in Brazil. Monsanto's $290 million acquisition of Aly Participacoes Ltda. from Votorantim Novos Negocios Ltda. and its sister company, Votorantim Industrial S.A., will be consummated with existing excess cash.
Both Votorantim Novos Negocios Ltda. and Votorantim Industrial S.A. are part of the Brazilian industrial conglomerate, Votorantim Participacoes S.A.. The transaction will be completed as soon as practical.
- Cepheid (Nasdaq: CPHD) announced that it has entered into a definitive agreement to acquire Stretton Scientific Limited, a privately held distributor of scientific diagnostic, measuring and monitoring equipment based in Stretton, England. Stretton Scientific currently distributes Cepheid's SmartCycler(R) System, among other diagnostic and life science products, to a broad group of medical customers including the National Health Service (NHS), medical universities and commercial customers.
"Consistent with Cepheid's strategy to invest in sales and marketing capabilities to support national market development, the acquisition of Stretton Scientific is expected to augment our newly established UK-based direct sales team," said John Bishop, Cepheid's Chief Executive Officer.
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