Unilever Selling Seed Unit to Monsanto
Reuters
London-based Unilever said it has agreed to sell its Plant Breeding International unit to Monsanto Co. for $524 million in cash, the latest deal by St. Louis-based Monsanto to expand in the seed business. PBI produces and sells crop varieties worldwide and has significant breeding programs. Monsanto’s stock rose $1.81 to close at $55.56 on the NYSE.
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