The following is an edited excerpt.
DuPont Co will pay Monsanto Co at least $1.75 billion in a new licensing deal that is part of an agreement which also dismisses the rivals’ bitter legal battles over rights to technology for genetically modified seeds, the world’s top seed companies said on Tuesday.
The deal tosses out a $1 billion jury verdict DuPont was ordered to pay Monsanto last August. Instead, the companies agreed that DuPont would make at least $1.75 billion in royalty payments over several years in exchange for broad access to develop products using Monsanto’s leading genetic technology. The companies agreed to drop antitrust and patent claims against each other while forging the new collaboration.
Read the full article here: Monsanto And DuPont Settle Genetically Modified Seed Battle
