Subject to satisfaction of applicable closing conditions, including obtaining the necessary financing, Seminis currently expects to complete the merger by the end of September 2003.
Following completion of the merger, public holders of approximately 15.1 million Seminis shares will receive cash consideration of $3.78 per share, Seminis will be privately held and Seminis shares will no longer be listed on The NASDAQ National Market.
Seminis, Inc. is the largest developer, producer and marketer of vegetable and fruit seeds in the world. Seminis uses seeds as the delivery vehicle for innovative agricultural technology.
Its products are designed to reduce the need for agricultural chemicals, increase crop yield, reduce spoilage, offer longer shelf life, and create better tasting foods and foods with better nutritional content. Seminis has established a worldwide presence and global distribution network that spans 150 countries and territories.