By Sara Toth Stub
Special to DOW JONES NEWSWIRES
JERUSALEM--Israeli crop bioengineering company Rosetta Green
Ltd. (RSTG.TV) said Sunday that Monsanto Co. (MON.NYSE) will
acquire its activities for $35 million.
The agreement, which includes costs for terminating Rosetta
Green's employees, will leave Rosetta Green as an empty shell on
the Tel Aviv market. U.S. based
Monsanto is an industry leaders in biotechnology and fertilizer
development for the agricultural sector. It also has a
collaboration agreement with Israel's Evogene Ltd. (EVGN.TV), worth
about $35 million.
Shares of Rosetta Green rose sharply on the news, as the price
reflects a premium of about 100% over Thursday's market cap of 66
million shekels ($17.94 million). At 0919 GMT, shares of Rosetta
Green were up ILS1.66, or 25.52%, at ILS8.21, in a higher Tel Aviv
market.
Write to Sara Toth Stub at realtimedesklondon@dowjones.com
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