MONSANTO TO BUY CALGENE STAKE

ST. LOUIS -- In a deal between two of the country's major agricultural biotechnology firms, Monsanto Co. here has signed a letter of intent to contribute $30 million to Davis, Calif.-based Calgene in exchange for 49.9% of Calgene's stock.plant oils research and development," according to the letter of intent.The deal is expected to close in the fourth quarter of this year, pending approval by Calgene

ST. LOUIS -- In a deal between two of the country's major agricultural biotechnology firms, Monsanto Co. here has signed a letter of intent to contribute $30 million to Davis, Calif.-based Calgene in exchange for 49.9% of Calgene's stock.

plant oils research and development," according to the letter of intent.

The deal is expected to close in the fourth quarter of this year, pending approval by Calgene stockholders.

Monsanto is including a $10 million cash advance, i

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