BASF Takeover Rumors Hit Monsanto Stock
Albuquerque Express (Source: Business Journal) | April 16, 2011
… sending shares in the chemical and seed company on a wild ride. Monsanto (NYSE: MON) stock started the week at about $67, but surged close to $70 per share Tuesday when the rumors surfaced.
Since then, the stock has given back much of that gain, closing Friday at $67.33, which is still well above its 52-week low of $44.61 from last July. Both companies have operations in the Dayton region, employing hundreds of workers.
Monsanto has research facility in Troy and BASF has a chemical plant in Greenville and a manufacturing facility in Brookville.
It was Tuesday when the speculation surfaced and pushed the stock higher.
“Monsanto shares … are active on unconfirmed rumors that BASF is interested in the company” …
Full story at Business Journal