The agricultural giant,
) recently acquired Israeli plant trait developer Rosetta Green
Ltd. Rosetta Green is a bio-engineering company, specializing in
identifying unique genes and developing improved plant traits for
the agriculture and biofuel industries.
Rosetta Green was formed in the year 2010, following a
Rosetta Genomics Ltd.
) and went public in the year 2011. According to "Globes", an
Israeli news provider, the deal is worth $35.0 million, where
Rosetta Genomics will have no share. However, the news channel
also reported that Rosetta Genomics has sued Rosetta Green for
seeking a share in the total transaction value.
Monsanto said that Rosetta Green's operations in Israel will
remain undisturbed, while its employees will continue to perform
their roles with Monsanto. The move is seen to benefit Monsanto
immensely as the RiboNucleicAcid (RNA) technology that Rosetta
uses blends well with Monsanto's existing research projects.
Monsanto reported impressive first quarter fiscal 2013 results
in January. Sales increased 20.5% year over year to $2.9 billion.
The increase was led by strong businesses from corn, seed and
traits. Also, earnings soared 170% to 62 cents per share year
over year. Based on the outstanding performance by its business
segments, the company enhanced its earnings outlook for fiscal
2013 to a range of $4.30-$4.40 from the previously announced
range $4.18-$4.32 per share.
Also, in late January, Monsanto acquired a few assets of
Agradis Inc., an agricultural solutions provider. The acquisition
involved the purchase of the brand name "Agradis" and a
collection of the company's microbes, useful for improving crop
productivity. With the purchase of Agradis' assets, Monsanto will
be able to offer better products and solutions to its customers,
which can result in improved crop health and productivity.
Monsanto currently bears a Zacks Rank #2 (Buy). Other stocks
worth a look in the chemicals sector are
Rentech Nitrogen Partners
Air Products & Chemicals Inc.
); also carrying a Zacks Rank #2 (Buy).
AIR PRODS & CHE (APD): Free Stock Analysis
MONSANTO CO-NEW (MON): Free Stock Analysis
ROSETTA GENOMIC (ROSG): Free Stock Analysis
To read this article on Zacks.com click here.