August 15, 2006
On August 15, Willkie client Monsanto Company announced that it has signed a definitive agreement to acquire cotton seed producer Delta and Pine Land Company for $1.5 billion in cash. The transaction was unanimously approved by the Boards of Directors of both companies and is subject to Delta and Pine Land shareowner approval, antitrust clearance, and customary closing conditions. Developing and delivering cotton varieties for farmer customers for more than 90 years, Delta and Pine Land Company operates the largest and longest running private cotton seed breeding program in the world. Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. The deal was handled by partner William Gump and associates Russell Leaf, Marshal Bozzo and Sarah Schandler. Partner E. Donald Elliott provided environmental advice.
