Davis Polk advised each of Goldman, Sachs & Co. and JPMorgan Chase Bank, National Association, London Branch in connection with accelerated share repurchase transactions they entered into with Monsanto Company, pursuant to which Monsanto is repurchasing an aggregate of $6 billion of its common stock. Under the terms of the transactions, Monsanto will receive an initial aggregate delivery of approximately 38.6 million shares of its common stock. The final number of shares to be repurchased under each transaction will be based on a discount to the volume-weighted average stock price during the term of such transaction. The final settlement of the transactions is expected to occur in up to nine months.
Monsanto is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality.
The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Katharine O’Banion and Erica B. Richey. All members of the Davis Polk team are based in the New York office.
