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MON

Monsanto

$101.32

0.11 (0.11%)

, BAYRY

Bayer

$96.78

-0.115 (-0.12%)

08:31
11/22/16
11/22
08:31
11/22/16
08:31

Monsanto says purported class action lawsuit related to merger 'without merit'

In a regulatory filing, Monsanto (MON) stated: "In connection with the merger agreement and the transactions contemplated thereby, a purported class action lawsuit, captioned Ken Gawrych, on behalf of himself and all others similarly situated, v. Monsanto Company et al., was filed on November 16, 2016 in the Circuit Court for St. Louis County, State of Missouri. The complaint asserts, among other things, that the defendant members of the Monsanto board of directors breached their fiduciary duties to shareowners by agreeing to a transaction that does not adequately reflect Monsanto's true value in order to obtain personal benefits they would not otherwise receive and by failing to disclose material information relating to the transaction, and that defendants Bayer, Morgan Stanley, Ducera and unidentified employees of Morgan Stanley and Ducera aided and abetted the breaches of fiduciary duties of the Monsanto board of directors. The complaint seeks, among other relief, to enjoin the consummation of the merger. Monsanto believes the claims asserted in the lawsuit are without merit."

MON

Monsanto

$101.32

0.11 (0.11%)

BAYRY

Bayer

$96.78

-0.115 (-0.12%)

  • 29

    Nov

  • 13

    Dec

  • 27

    Jan

MON Monsanto
$101.32

0.11 (0.11%)

09/26/16
BERN
09/26/16
UPGRADE
BERN
Market Perform
Monsanto upgraded to Market Perform from Underperform at Bernstein
09/26/16
BERN
09/26/16
UPGRADE
BERN
Market Perform
Monsanto upgraded on acquisition at Bernstein
As noted earlier, Bernstein upgraded Monsanto (MON) to Market Perform from Underperform. Analyst Jonas Oxgaard upgraded the stock after Bayer (BAYRY) agreed to buy Monsanto. However, he warned that "it's too early to tell" whether regulators will approve the deal, and he says that the risk is "skewed to the downside in the near-term." He recommends that investors avoid the stock for 6-9 months. Target to $105 from $90.
09/27/16
GSCO
09/27/16
UPGRADE
GSCO
Neutral
Monsanto upgraded to Neutral from Sell at Goldman
11/18/16
OTRG
11/18/16
UPGRADE
OTRG
Mixed
Monsanto upgraded to Mixed from Negative at OTR Global
BAYRY Bayer
$96.78

-0.115 (-0.12%)

09/15/16
PIPR
09/15/16
NO CHANGE
Target $128
PIPR
Overweight
Piper has confidence in closing of Monsanto, Bayer merger
Piper Jaffray analyst Brett Wong raised his price target for Monsanto (MON) to $128 citing the takeover price paid by Bayer (BAYRY). The analyst views the offer price as lower than expected but has confidence regulatory approval will be granted since there is a minimal crossover between the two companies. He reiterates an Overweight rating on Monsanto.
09/15/16
BERN
09/15/16
NO CHANGE
BERN
Bayer acquisition negative, says Bernstein
After Bayer (BAYRY) agreed to buy Monsanto (MON), Bernstein analyst Jonas Oxgaard says he "continues to have a bearish view" of Monsanto's business, and he thinks that Monsanto's price exceeded the company's true value by about 60%. The analyst adds that the genetically modified products that Monsanto is developing "are not expected to command outsized premiums," while genetically modified seeds have nearly fully penetrated most of the Americas. He keeps an Underperform rating on Monsanto and an Outperform rating on Bayer.
09/21/16
JPMS
09/21/16
UPGRADE
Target $128
JPMS
Overweight
Monsanto upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded Monsanto (MON) to Overweight saying the risk in the shares is "less than what the market assumes." The analyst believes downside risk should the takeover by Bayer (BAYRY) fail is around $100 per share. He notes that Monsanto shareholders would receive $128 per share should the acquisition close. Zekauskas raised his price target for Monsanto to $128 from $100.

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