Monsanto Overvalued and Imploding
Monsanto Investing News web page.
[Excerpted from a Bloomberg Financial Markets article on October 13, 1998.
Article refers to American Home Products pulling out of merger with Monsanto.]
Robert Chapman, chief executive of Los Angeles-based Chapman Capital LLC, an
arbitrage firm, said he sold American Home shares short -- betting on a
decline -- because he didn't think the companies would merge.
``This was one of the worst mergers I have ever seen,'' said Chapman.
``American Home was buying an overvalued, decelerating business which is
imploding because of its seed business. They should get a closer look at their
partners before asking them to dance.''