ST. LOUIS, June 1 / -- Monsanto Company (NYSE:MON) announced today that it has completed its proposed acquisition of Delta and Pine Land Company for approximately $1.5 billion. In line with its previous announcement, the Delta and Pine Land business will operate independently of Monsanto's other commercial operations until Monsanto has completed its proposed divestitures of the Stoneville and NexGen businesses. Once the divestiture of the Stoneville and NexGen businesses has been completed, Monsanto will begin combining the business operations of Delta and Pine Land with its existing business.
Monsanto announced that it financed the transaction with a short-term loan which the company will refinance with commercial paper borrowings.
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