Monsanto : Remains On-track In 5-yr Plan To At Least Double Ongoing EPS By 2019

(RTTNews) - Monsanto Co. (MON) said that it remains on-track in five-year plan to at least double ongoing earnings per share by 2019.

Speaking to investors at the BMO Capital Markets 10th Annual Farm to Market Conference in New York, Monsanto's President and Chief Operating Officer Brett Begemann will discuss how the company's ability to innovate and share value with farmers continues to be its strategic differentiator.

In his presentation, Begemann will expand on the company's vision and strategic rationale for the Syngenta proposal, noting the opportunity is about creating a new company that pursues a truly integrated solutions strategy - redefining the future of agriculture.

Begemann will also reinforce that the company has devoted significant time and resources to analyzing a potential combination of Syngenta and Monsanto and remains confident in its ability to address regulatory concerns.

Separately, Monsanto and The Scotts Miracle-Gro Company (SMG) announced that they have extended their nearly two-decade long partnership in the lawn and garden consumer market.

As part of the extension, Monsanto also renewed and expanded the terms of its marketing agreement with Scotts and provided preferred access to Monsanto's R&D pipeline for lawn and garden.

As per the agreement, Scotts will pay Monsanto a one-time upfront payment of $300 million in exchange for a Roundup brand license, extended agency agreement and technology agreement.