It looks like Monsanto’s acquisition of Delta and Pine Land Company is making progress.

Monsanto Company announced today that it has reached an agreement with the U.S. Department of Justice (DOJ) that will allow it to complete its proposed acquisition of Delta and Pine Land Company. Under terms of the agreement, which was filed today in Federal Court in Washington, D.C., Monsanto will be required to divest certain assets including its U.S. branded cotton seed business. Monsanto plans to close its acquisition and resulting divestitures as soon as possible following the required approvals from the court and the DOJ. (Full Release)

This opens the door for another acquisition. This time from Bayer CropScience as they announce their intention to purchase Stoneville Pedigreed Seed Comapny from Monsanto.

Bayer CropScience announced today that it has entered into an agreement to purchase Stoneville Pedigreed Seed Company, a leading US provider of cotton seeds, from Monsanto Company for a total purchase price of US-$ 310 million (approximately EUR 230 million). The agreement was signed on May 31, 2007. This acquisition is expected to enhance the fast-growing US cotton seed business of Bayer CropScience, currently the second largest cotton seed supplier in North America. The acquisition is subject to the approval of the US competition authorities. (Full Release)