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Pharmacia to spin off remainder of Monsanto holdings

(July 22, 2002 -- CropChoice news) -- Pharmacia Corp. announced last week that it will spin off the remainder of its holdings in Monsanto Co. on August 13 in a stock dividend. The company plans to merge with Pfizer Inc. before the end of the year. As part of the $51 billion deal, the value of which will vary due to changing share prices, Pfizer will pay 1.4 shares of its stock for every share of Pharmacia, but not including Monsanto.

Source: AgWeb