Bayer buys cotton seed company

by Jeff Gelski
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LEVERKUSEN, GERMANY — Bayer CropScience agreed on May 31 to purchase Stoneville Pedigreed Seed Co., a leading U.S. provider of cotton seeds, from Monsanto Co. for $310 million. The acquisition is subject to approval of U.S. competition authorities. It does not include Stoneville’s NexGen franchise, a regional cotton seed business in Texas, and other assets related to the NexGen business. "The acquisition of the Stoneville activities in the U.S. is a significant step in further expanding our successful cotton seed business, which forms part of our core seed crops along with canola, rice and vegetables," said Werner Wenning, chairman of the board of management of Bayer AG.

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