GO
Loading...

Enter multiple symbols separated by commas

Monsanto Bid for Delta Could Run Into Trouble: WSJ

Monsanto Co's attempt to buy southern seed giant Delta & Pine Land could be running into trouble as an unusual backlash against the proposed combination is taking root across the U.S. Farm Belt, the Wall Street Journal reported on its Web site on Monday.

Monsanto, the world's leading developer of biotech crops, said in August that it would buy Delta and Pine Land Co., the top U.S. seller of cotton seeds, for $1.5 billion in a deal that would give Monsanto a dominant position in the $40 billion cotton seed market.

The deal would give Monsanto more control over a major crop by a biotechnology company than ever before allowed, a prospect that upsets anti-biotechnology activists, the WSJ reported.

Some biotech-industry leaders are prodding the attorneys general of several states to look into the combination as an antitrust review by the Justice Department extends into its fourth month, the paper said.

Monsanto was not immediately available for comment.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Closing Bell Exchange: What's holding Fed back?

    Reacting to the Fed, Peter Costa, Empire Executions, says he is concerned about slow wage growth. Kate Warne, Edward Jones, and CNBC's Rick Santelli, weigh in.

  • Fed statement changes

    The Federal Reserve updated its statement saying there are "solid" job gains, and only "some" improvement in jobs needed for the rate hike. Insight, with CNBC's Steve Liesman.

  • Low rates loves real estate: Lutnick

    Howard Lutnick, Chairman and CEO of both Cantor Fitzgerald and BGC Partners, discusses his company's stock price, and which economic conditions benefit profits.