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E. I. du Pont de Nemours and Co, Monsanto Co Strike $1.75 Billion Licensing Deal, End Lawsuits-Reuters


Tuesday, 26 Mar 2013 05:35am EDT 

Reuters reported that will pay E. I. du Pont de Nemours and Co will pay Monsanto Co at least $1.75 billion in a new licensing deal and both companies have agreed to dissolve their bitter legal battles over rights to technology for genetically modified seeds, the companies said. The companies agreed to drop antitrust and patent claims against each other while forging the new collaboration, and agreed to toss out a $1 billion jury verdict DuPont was ordered to pay Monsanto last August. Separately, DuPont will make at least $1.75 billion in royalty payments over several years in exchange for broad access to Monsanto's genetic technology for the development of new agricultural seed products. 

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