What drives biopesticide merger

Biopesticide developers Biosys Inc. and Crop Genetics International have signed a merger agreement that will give BIOS access to CROP's in vivo baculovirus production process and its cash.

In the proposed merger, which will be treated as a pooling of interests, BIOS will issue 2.1 million new shares to acquire CROP's 10.8 million common shares, and will issue 1.4 million new shares to acquire CROP's 2.1 million preferred shares. ...