UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_________________________________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): June 26, 2009 (June 23,
2009)
MONSANTO
COMPANY
(Exact
Name of Registrant as Specified in its Charter)
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Delaware
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001-16167
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43-1878297
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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800
North Lindbergh Boulevard
St.
Louis, Missouri 63167
(Address
of Principal Executive Offices) (Zip Code)
Registrant's
telephone number, including area code: (314) 694-1000
Not
Applicable
(Former
Name or Former Address, If Changed Since Last Report)
_________________________________
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations under any of the following provisions (see
General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d.-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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On June
23, 2009, Monsanto committed to take future actions to reduce costs in light of
the increased market supply environment for glyphosate. The company
will create a separate division for its Roundup® and other herbicides business,
which is expected to better align spending and working capital
needs. This action is designed to enable Monsanto to stabilize the
Roundup® business and allow it to deliver optimal gross profit and a sustainable
level of operating cash in the coming years. The company also
announced that it will take steps to better align the resources of its global
seeds and traits business. Together, these actions will include a
reduction of approximately 900 employees across the entire
company. The scope of reductions will vary from country to country
and is expected to be less than four percent of the company’s global
workforce. These actions are expected to require a restructuring
charge estimated at approximately $350 million to $400 million in the
fourth-quarter of fiscal year 2009. The company expects to complete
its restructuring in fiscal year 2010. At this time, the company is
not able, in good faith, to make a determination of the estimated amount or
range of amounts to be incurred for each major type of cost nor the charge that
will result in future cash expenditures. The company will file an
amendment to this report upon the determination of such amounts.
Cautionary Statements
Regarding Forward-Looking Information:
Certain
statements contained in this Current Report on Form 8-K are "forward-looking
statements," such as statements concerning the company's anticipated financial
results, business and financial plans and other non-historical facts. These
statements are based on current expectations and currently available
information. However, since these statements are based on factors that involve
risks and uncertainties, the company's actual performance and results may differ
materially from those described or implied by such forward-looking statements.
Factors that could cause or contribute to such differences include, among
others: continued competition in seeds, traits and agricultural chemicals; the
company's exposure to various contingencies, including those related to
intellectual property protection, regulatory compliance and the speed with which
approvals are received, and public acceptance of biotechnology products; the
success of the company's research and development activities; the outcomes of
major lawsuits; developments related to foreign currencies and economies;
successful operation of recent acquisitions; fluctuations in commodity prices;
compliance with regulations affecting our manufacturing; the accuracy of the
company's estimates related to distribution inventory levels; the company's
ability to fund its short-term financing needs and to obtain payment for the
products that it sells; the effect of weather conditions, natural disasters and
accidents on the agriculture business or the company's facilities; and other
risks and factors detailed in the company's most recent reports on Forms 10-Q
and 10-K. Undue reliance should not be placed on these forward-looking
statements, which are current only as of the date of this Current Report on Form
8-K. The company disclaims any current intention or obligation to update any
forward-looking statements or any of the factors that may affect actual
results.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: June
26, 2009
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MONSANTO
COMPANY
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By:
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/s/
Christopher A. Martin
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Name:
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Christopher
A. Martin
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Title:
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Assistant
Secretary
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