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.

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