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4 result(s) for "Delaware, Steven S"
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DuPont Agrees to Buy Pioneer Hi-Bred --- Chemicals Maker Will Pay $7.7 Billion for Leading U.S. Seed Company
DuPont said it will pay $40 a share for the 80% of the Des Moines, Iowa, company that it doesn't already own. The directors of Pioneer, the biggest seed company in the U.S., met late Sunday and approved the offer, people close to the discussions said. The agreement, which is subject to regulatory approvals, represents an 80% premium above where Pioneer shares were trading early last week, before speculation about a possible DuPont bid ignited the price of Pioneer stock. In composite trading Friday on the New York Stock Exchange, Pioneer rose 40%, or $9.8125, to $34.3125. DuPont fell 37.5 cents to $57.75. Pioneer shares were up 11%, or $3.875, at $38.1875 each on Monday afternoon, while DuPont shares were down 2.6%, or $1.50, at $56.25 each.