Pharmacia to Spin Off Ownership Stake in Monsanto Company
[The following is based on a November 28 news release.]
At a business briefing with investors today in New York, Pharmacia
Corporation announced that its Board of Directors has authorized the
company to spin off its Monsanto agricultural subsidiary.
Under the plan, Pharmacia will distribute its entire ownership of
Monsanto stock to Pharmacia shareholders by means of a tax-free
dividend during the second half of 2002. Pharmacia currently owns
approximately 85 percent of Monsanto.
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