Monsanto, Novartis Reported in Merger Talks

Monsanto Co. and Novartis declined to comment on whether they are in merger talks that would form a formidable force in world agriculture markets if they overcome strong antitrust scrutiny. The Wall Street Journal reported that Monsanto had been in talks about selling all or part of the company, and Swiss drug and chemical group Novartis had emerged as a serious suitor. Analysts said Monsanto, which produces the herbicide Roundup and genetically modified seeds, has been under pressure to revive its flagging stock price. Meanwhile, Novartis has been eager to bolster its drug offerings. Shares in St. Louis-based Monsanto closed up 63 cents at $44.38 on the New York Stock Exchange. Novartis shares rose 50 cents to $77.75 in over-the-counter trading.