Monsanto Company (MON - Analyst Report) and a wholly owned subsidiary of The Dow Chemical Company (DOW - Analyst Report) , Dow AgroSciences LLC, have signed a new agreement on the premium EXZACT technology platform. The companies have joined forces to research and commercially develop new varieties of crop solutions across the research portfolio of Monsanto.
This non-exclusive global option and licensing deal signed by Monsanto and Dow AgroSciences is likely to offer next-generation crop developments to farmers with the help of the EXZACT Precision Technology of the latter.
Dow AgroSciences has created EXZACT technology under a unique collaboration and licensing contract with Sangamo BioSciences, Inc. It is a type of genome-editing technology used to produce crop lines and varieties with enhanced traits.
The companies intend to deliver breakthrough technologies within the agricultural chemical’s market through the above-mentioned agreement. Financial terms of the deal remain undisclosed.
Monsanto recently accepted Bayer AG’s (BAYRY - Analyst Report) all-cash $66-billion buyout offer. However, the deal has not gained any regulatory sanction yet.
Share price of this Zacks Rank #3 (Hold) stock was $102.47 as on Oct 3, 2016.
The company is slated to report its fiscal fourth-quarter 2016 results on Oct 5 before the opening bell.
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Over the last 60 days, the Zacks Consensus Estimate for the stock has been revised upward by 42.4% for fiscal 2016 and 5.9% for fiscal 2017.
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