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IPOs and mergers in the biotech world

(July 16, 2001 -- CropChoice news) -- Last week brought news of companies going public and of mergers.

Bunge Ltd., one of the largest soybean processors in the Americas and a leading exporter of soybean products, announded that it had applied with the Securities and Exchange Commission on Friday to extend an initial public offering.

In an effort to reduce debt, the company said it plans to sell 17.6 million common shares for between $16 and $18 each, which could bring in about $300 million.

Earlier last week, Bayer AG entered negotiations with Aventis SA and Schering AG to buy their CropScience business.

According to Reuters, "buying CropScience -- for an estimated six to eight billion euros ($5.1-6.8 billion), including debt -- would propel Bayer from number six to number two in the $33-billion-a-year agrochemicals market, just behind Swiss Syngenta AG."

Source: Reuters