(RTTNews) - Agricultural products company Monsanto Co. (MON: News ), on Monday said it signed an agreement with Pfizer Inc. (PFE: News ), to acquire Chesterfield Village Research Center, Missouri in a deal valued at $435 million to be paid over time. The deal is expected to close in the first half of 2010.

Under the terms of the agreement, St. Louis, Missouri-based Monsanto would acquire the property from Pfizer, with Pfizer continuing to perform important Biotherapeutic Research at the Center.

Monsanto indicated having leased more than 400 thousand square feet of the property from Pfizer, and around 400 of its employees and contractors work on site, most of whom are researchers.

Don Frail, vice president, Pfizer St. Louis Site Director said, "We will continue to partner with Monsanto to ensure high-caliber research is ongoing in St. Louis, and that researchers from both companies will continue to share the Chesterfield Village Research Center."

Monsanto expects the site to continue to support its robust pipeline, which is focused on raising agricultural productivity such as drought-tolerant corn and higher-yielding soybeans, and enable it to reach its goal of doubling yields in its core crops by 2030.

While reporting its results on October 7, Monsanto reported a wider loss for the fourth quarter on weak sales, largely reflecting a sales decline for it's roundup and other glyphosate-based herbicides, partly offset by higher sales of corn seeds and traits and vegetable seeds. The company also backed its earnings forecast for fiscal 2010.
For the full year 2010, Monsanto continues to expect earnings in the range of $3.10 - $3.30 per share, while on an as- reported basis, full-year earnings is still anticipated in the range of $2.85 - $3.11 per share.

On average, 18 analysts polled by Thomson Reuters currently expect the company to report earnings of $3.29 per share for the full year. Analysts' estimates typically exclude one-time charges and gains.

The company's also expects its seeds and traits business to cross the $5 billion gross profit mark for the first time in 2010.

MON is currently trading at $69.30, up $0.18 or 0.26%, on a volume of 3.24 million shares, while PFE is trading at $17.38, up $0.42 or 2.48%, on a volume of 20.32 million shares on the NYSE.

To receive FREE breaking news email alerts for Monsanto Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com