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Monsanto May Sell or Restructure Solaris

January 09, 1998|Bloomberg News

Monsanto Co. said it is considering a sale, restructuring or other alternative for several of its businesses, including its Solaris lawn-and-garden unit, so it can focus on its life-sciences business. San Ramon-based Solaris, which makes Ortho brand products and Roundup herbicide, has 400 employees. A Monsanto spokeswoman declined to identify which other businesses are being considered for sale or restructuring. St. Louis-based Monsanto, which wouldn't reveal Solaris' annual revenue, said other alternatives for the units could include partnerships or joint ventures. Monsanto said the move is part of its effort to focus on opportunities in agricultural chemicals, seed and biotechnology and pharmaceuticals. Monsanto shares were unchanged at $41 on the NYSE.

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