logo
  Join        Login             Stock Quote

Monsanto (MON): Justice Department Ends Antitrust Probe Of Seed Industry

 November 19, 2012 11:53 AM
 


(By Balaseshan) Monsanto Co. (NYSE: MON) said the U.S. Department of Justice has ended its formal antitrust probe into the crop biotechnology giant's soybean traits business and the seed industry without pursuing charges.

Monsanto originally reported this inquiry in January 2010. The inquiry stated that Monsanto was trying to limit access to push a new, pricier product instead, according to the Reuters.

The Justice Department had demanded information about Monsanto's business practices surrounding its Roundup Ready soybean, a ubiquitous product that is genetically modified to withstand application of the herbicide glyphosate, according to the Wall Street Journal.

[Related -Monsanto Company (MON) Dividend Stock Analysis]

Monsanto said at that time that it will allow farmers and seed companies continued access to the first-generation Roundup Ready trait following patent expiry in 2014.

Monsanto said it had cooperated fully with the Justice Department since January 2010, and has received written notification on Friday from the U.S. Department of Justice, Antitrust Division, that the inquiry was closed without any enforcement action.

"We're pleased that the Justice Department has closed its inquiry and this issue is now behind us. Our business is focused on delivering new product innovations to farmers each and every year and we remain committed to developing the products that deliver results for them," said David Snively, Monsanto's executive vice president, secretary and general counsel.

[Related -Monsanto Company (MON): Shares Offer Compelling Value]

The company's seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity, reduce the costs of farming, and produce better foods for consumers and better feed for animals. It manages business in two segments: Seeds and Genomics, and Agricultural Productivity.

MON is trading up 2.11% at $87.03 on Monday. The stock has been trading between $67.09 and $92.20 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article image3 US Updates Show Ongoing Growth

Three economic updates today provide more evidence that moderate growth endures for the US. The numbers du read on...

article imageBuy These Solar Stocks Before They Snapback

Sometimes the market hands you a gift. And it would be foolish not to take it. Thanks to general market read on...

article imageInvestors Are Even More Euphoric And Confident.

As noted on the blog last Thursday, even though the market had been down for three straight weeks, last read on...

article imageThe Butterfly Machine

There’s a phenomenon called the Butterfly Effect. One common quotation is “It has been said that something read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.