Biotech Values

[DewDiligence]

MON is up on a down day due to rumor of buyout interest from BASF, an ag-biotech player and a MON partner. I don’t find the rumor especially credible, but the following excerpt from Reuters is curious:

http://finance.yahoo.com/news/Monsanto-shares-rise-on-BASF-rb-3810289155.html?x=0&.v=1

A banking source familiar with the matter told Reuters that BASF has no current plans to buy Monsanto, though if it were interested, it would need to pay at least 70 billion euros ($101.2 billion).

This is an odd kind of denial.