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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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RULE 13E-3 TRANSACTION STATEMENT
(Pursuant to Section 13(e) of the Securities Exchange Act of 1934)
(Amendment No. 1)
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MYCOGEN CORPORATION
(Name of the Issuer)
MYCOGEN CORPORATION
THE DOW CHEMICAL COMPANY
ROFAN SERVICES INC.
CENTEN AG INC.
DOW AGROSCIENCES LLC
and
AGROSCIENCES ACQUISITION INC.
(Name of Person(s) Filing Statement)
COMMON STOCK
PAR VALUE $0.001 PER SHARE
(INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS)
(Title of Class of Securities)
628452 10 4
(CUSIP Number of Class of Securities)
John Scriven Jane M. Gootee Brian G. Taylorson
Vice President, General Vice President President
Counsel and Secretary Rofan Services Inc. Centen Ag Inc.
The Dow Chemical Company 2030 Dow Center 2030 Dow Center
2030 Dow Center Midland, Michigan 48674 Midland, Michigan 48674
Midland, Michigan 48674 (517) 636-1000 (517) 636-1000
(517) 636-1000
Louis W. Pribila Brian G. Taylorson Carlton J. Eibl
Vice President, Secretary President President
and General Counsel AgroSciences Acquisition Inc. Mycogen Corporation
Dow AgroSciences LLC 2030 Dow Center 5501 Oberlin Drive
9330 Zionsville Road Midland, Michigan 48674 San Diego, CA 92121-1718
Indianapolis, Indiana 46268 (517) 636-1000 (619) 453-8030
(317) 337-3000
with copies to:
Scott J. Davis Norman M. Gold
James T. Lidbury Peter H. Lieberman
Mayer, Brown & Platt Altheimer & Gray
190 South LaSalle Street 10 South Wacker Drive
Chicago, Illinois 60603 Suite 4000
(312) 782-0600 Chicago, Illinois 60606
312) 715-4000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Persons Filing Statement)
This statement is filed in connection with (check the appropriate box):
a. / / The filing of solicitation materials or an information statement
subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under
the Securities Act of 1934.
b. / / The filing of a registration statement under the Securities Act
of 1933.
c. /X/ A tender offer.
d. / / None of the above.
Check the following box if the soliciting materials or information statement
referred to in checking box (a) are preliminary copies: / /
CALCULATION OF FILING FEE
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Transaction Valuation* Amount of Filing Fee
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$374,232,918 $74,847
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* For purposes of calculating the filing fee only. This amount assumes the
purchase of 11,532,381 shares of common stock (the "Shares") of the subject
company at $28.00 in cash per Share as well as the purchase of 3,568,635
Shares subject to outstanding options at $28.00 per Share less the
average exercise price per Share subject to such options of $13.6174.
Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the Form
or Schedule and the date of its filing.
/X/ Amount Previously Paid: $74,847
Form or Registration Number: Schedule 14D-1.
Filing Party: The Dow Chemical Company, Rofan Services
Inc., Centen Ag Inc., Dow AgroSciences LLC
and AgroSciences Acquisition Inc.
Date Filed: September 4, 1998.
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INTRODUCTION
This amended Rule 13e-3 Transaction Statement is being filed by Mycogen
Corporation (the "Company"), The Dow Chemical Company ("TDCC"), Rofan
Services Inc. ("Rofan"), Centen Ag Inc. ("Centen"), AgroSciences Acquisition
Inc. ("Purchaser") and Dow AgroSciences LLC ("Parent"). Rofan and Centen are
wholly owned subsidiaries of TDCC, a public corporation whose stock is traded
on the NYSE. Rofan and Centen own 63% and 37%, respectively, of the
interests of Parent. Parent owns 69% of the common stock of Purchaser, and
Centen owns the remaining 31% of the common stock of Purchaser. Parent holds
approximately 68.3% of the outstanding shares of common stock, par value
$0.001 per share (the "Shares"), of the Company. This Statement relates to a
proposed merger (the "Merger") in which Purchaser would merge with and into
the Company and the Shares other than those Shares held by Parent or
Purchaser would be converted into the right to receive $28.00 per Share in
cash.
By signing below, the Company hereby adopts the original Schedule 13e-3
Transaction Statement filed on September 4, 1998 (the "Original Statement")
by TDCC, Rofan, Centen, Purchaser and Parent as amended by this amendment.
Capitalized terms used but not otherwise defined herein shall have the
meanings set forth in the Original Statement.
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ITEM 2. IDENTITY AND BACKGROUND
(a)-(d) and (g) The information set forth in "The Tender Offer - 7.
Certain Information Concerning the Company" of the Offer to Purchase is
incorporated herein by reference.
Directors and Executive Officers of the Company
The following table sets forth the name, business address, present
principal occupation or employment and material occupations, positions, offices
or employment for the past five years of each director and executive officer of
the Company. Unless otherwise indicated below, the address of each director and
executive officer is c/o Mycogen Corporation, 5501 Oberlin Drive, San Diego,
California 92121 and each such person is a citizen of the United States.
Present Principal Occupation or
Employment and Five-Year Employment
Name and Business Address History
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Nickolas D. Hein . . . . . . . . . . Mr. Hein has served as a director of
the Company since March 1997 and as
Chairman of the Board of the Company
since May 1997. Mr. Hein is Vice
President-Biotechnology for Parent.
Prior to assuming that role in
February 1998, Mr. Hein had served as
Parent's Vice President, Global Growth
since 1990.
Carlton J. Eibl . . . . . . . . . . . Mr. Eibl joined the Company in
December of 1992 and currently serves
as a director and as President of the
Company and is responsible for
overseeing the Company's strategic
development, operations and resources.
From December 1992, to September 1995,
Mr. Eibl served as Executive Vice
President of the Company.
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John L. Hagaman . . . . . . . . . . . Mr. Hagaman has served as a director
of the Company from February 1996 to
March 1997 and was reelected to the
Company's board of directors in March
1998. Mr. Hagaman haas served as
President and Chief Executive Officer
of Parent since the formation of
Parent in October 1989. He was
appointed to the Members Committee of
Parent in August 1997. He is also a
member of the Corporate Leadership
Team of TDCC.
George Khachatourians . . . . . . . . Dr. Khachatourians has served as a
director of the Company since January
8, 1998. Dr. Khachatourians is a
Professor of Applied Microbiology and
Food Science at the University of
Saskatchewan.
Louis W. Pribila . . . . . . . . . . Mr. Pribila has served as a director
of the Company since December 1996.
Mr. Pribila has served as Vice
President, Secretary and General
Counsel of Parent since May 1995.
Prior to assuming his current position
at Parent, Mr. Pribila had been
Assistant General Counsel of TDCC
since 1989.
J. Pedro Reinhard . . . . . . . . . . Mr. Reinhard has served as a director
of the Company since [January 8,]
1998. Mr. Reinhard has been a
director and the Chief Financial
Officer of TDCC since October 1995.
Mr. Reinhard was elected Executive
Vice President of TDCC in November
1996. Prior to October 1995, Mr.
Reinhard served as Financial Vice
President of TDCC. Mr. Reinhard has
served on the Members Committee of
Parent since August 1997. Mr.
Reinhard is a citizen of Brazil.
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Joseph P. Sullivan . . . . . . . . . Mr. Sullivan has served as a director
of the Company since January 8, 1998.
Mr. Sullivan served as Chairman of
the Board of Directors of The Vigoro
Corporation ("Vigoro")from 1991 to
1996. From March 1991 to September
1994 Mr. Sullivan served as Chief
Executive Officer of Vigoro. Mr.
Sullivan served as Chief Operating
Officer of Vigoro from March 1991 to
July 1993 and as President and Chief
Executive Officer from January 1986
to March 1991. Mr. Sullivan serves as
a director of American Classic
Voyages. Mr. Sullivan previously
served as a director of Vigoro from
January 1986 through February 1996
and has served as a director of IMC
Global Inc. since March 4, 1996.
G. William Tolbert . . . . . . . . . Mr. Tolbert has served as a director
of the Company since February 1996.
Mr. Tolbert is Director of Global
Business Development for Parent.
Prior to joining Parent in 1989, Mr.
Tolbert held various positions at Eli
Lilly and Company including Global
Director of Elanco Ag Chem Business
Planning, Licensing and Acquisition
(1986-1989); Global Manager of
Agricultural Licensing and Acquisition
in Elanco Products Company (1984-1986);
Manager of Professional Recruitment
(1983-1984) and Manager of Strategic
Planning for Elanco Products (1981-
1983).
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Clayton K. Yeutter . . . . . . . . . Ambassador Yeutter has served as a
director of the Company since June 11,
1998. Ambassador Yeutter served as
U.S. Trade Representative from 1985 to
1989 and as Secretary of Agriculture
from 1989 to 1991. Ambassador Yeutter
served as Chairman of the Republican
National Committee from 1991 to 1992
and as Counselor to the President of
the United States in 1992. Ambassador
Yeutter is currently Of Counsel to the
law firm of Hogan & Hartson L.L.P. in
Washington D.C. Ambassador Yeutter
serves as a director of Zurich
Financial Services, Caterpillar Inc.,
Conagra Inc., Farmers Group Inc., FMC
Corp., Oppenheimer Multi-Sector Income
Trust, Oppenheimer World Bond Fund,
and Texas Instruments, Inc.
Andrew C. Barnes . . . . . . . . . . Mr. Barnes, a founder of the Company
in 1982, currently serves as Executive
Vice President of the Company
responsible for the Company's business
development.
James A. Baumker . . . . . . . . . . Mr. Baumker joined the Company in
August of 1987 and currently serves as
Vice President and Chief Financial
Officer of the Company. From June
1995 to September 1995 Mr. Baumker
served as the Company's Chief
Accounting Officer.
Leo Kim . . . . . . . . . . . . . . . Dr. Kim joined the Company in 1986 and
currently serves as Executive Vice
President and Chief Technical Officer
of the Company.
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Michael J. Muston . . . . . . . . . . Mr. Muston joined the Company in July
1996 and currently serves as Vice
President of the Company responsible
for the Company's North American seed
business unit, Agrigenetics, Inc.,
doing business as Mycogen Seeds.
Prior to joining the Company, Mr.
Muston was employed by Parent from
1989 through 1996 where he held
various positions including General
Manager -- Western Agricultur, Global
Business Operations Manager --
Herbicides and Global Third Party
Manufacturing Manager.
Michael W. Sund . . . . . . . . . . . Mr. Sund joined the Company in January
1993 and currently serves as Vice
President and Secretary of the Company
and is responsible for communications
and investor relations.
Naomi D. Whitacre . . . . . . . . . . Ms. Whitacre joined the Company in
January 1993 and currently serves as
Vice President responsible for
overseeing the Company's facilities
and human resources department.
(e)-(f) During the last five years, neither the Company nor any of the
other persons identified in this Item 2 has (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemanors) or (ii) been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and, as a result of such proceeding, was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
activities subject to, federal or state securities laws or finding any violation
of such laws.
ITEM 6. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
(b) Wasserstein Perella & Co., Inc. ("Wasserstein Perella") has acted as
financial advisor to the Special Committee in connection with the Offer and the
Merger. In that connection, the Company agreed to pay Wasserstein Perella fees
of approximately $2,250,000 in the aggregate, based on the $28.00 per Share
Offer Price. The Special Committee also retained Merrill Lynch & Co. ("ML") to
make available to the Special Committee certain employees of ML formerly
employed by Wasserstein Perella. In that connection, the Company agreed to pay
ML a fee of $500,000.
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ITEM 9. REPORTS, OPINIONS, APPRAISALS AND CERTAIN NEGOTIATIONS.
The sixth full paragraph on page 19 of the Offer to Purchase is hereby
amended by adding the following to the end thereof:
This report (the "Management Report") supported the projections included in
the Wasserstein Perella materials, which were more favorable to the Company
than the estimates presented to the Board in December 1997. In this
regard, the Management Report stated that the Company's North American seed
business is poised to significantly expand distribution channels and
increase market share reach. The Management Report also stated that the
Company believes that its internal breeding programs are proving to be
competitive. The Management Report noted the Company's recent successes in
accessing South American markets (primarily Brazil) and in attracting
interest from potential partners in Europe and South Africa. It was also
noted that the Company was exploring possible alliances covering alfalfa,
turf and vegetables. The Management Report further noted the Company's
validation of plant disease resistance technology which has been
in-licensed by the Company. The Company's recent successes in developing
and acquiring access to potentially valuable new technologies were briefly
summarized as were the Company's recent patent litigation successes. The
Management Report also indicated that substantial additional investment was
necessary in research and development to develop the Company's technology
platforms. In light of these developments, the Management Report concluded
that the Company's management supported more favorable projected results
over a ten-year time frame for the business than those reflected in the
projections which had been presented to the Board in December 1997.
Paragraph (ix) on page 22 of the Offer to Purchase is hereby amended and
restated as follows:
(ix) the written opinion of Wasserstein Perella delivered to the
Special Committee on August 31, 1998 (the "Wasserstein Perella Opinion") to
the effect that, subject to the various assumptions and limitations set
forth in the Wasserstein Perella Opinion, the $28.00 cash price to be
received by the holders of shares of Common Stock (other than TDCC or its
affiliates) pursuant to the Merger Agreement is fair to such holders from a
financial point of view, and the report and analysis presented by
Wasserstein Perella. In considering the Wasserstein Perella Opinion, the
Special Committee noted that the $28.00 cash price was below the range of
valuations derived by Wasserstein Perella for comparable transactions. In
this regard, the Special Committee noted Wasserstein Perella's explanation
that there were only four comparable transactions and that the
comparability of those transactions was limited because all of the other
parties whose securities were acquired were significantly larger companies
in terms of sales, had greater market shares with respect to their
principal products and were profitable companies. Wasserstein Perella
advised the Special Committee that comparable transactions were only one of
the means of determining value and in this case not a
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particularly useful means to do so in light of the foregoing factors.
The full text of the Wasserstein Perella Opinion, which sets forth among
other things, assumptions made, matters considered and limitations on
the review undertaken, is attached hereto as Annex A and is incorporated
herein by reference. The Wasserstein Perella Opinion is directed to the
Special Committee, addresses only the fairness of the consideration to
be received by the Minority Stockholders from a financial point of view
and does not constitute a recommendation to any such stockholder as to
whether such stockholder should accept the Offer and tender its Shares.
STOCKHOLDERS ARE URGED TO CAREFULLY READ THE WASSERSTEIN PERELLA OPINION
AND THE "OPINION OF WASSERSTEIN PERELLA" SECTION SET FORTH BELOW IN
THEIR ENTIRETY;
The final paragraph on page 29 and extending to the top of page 30 of the
Offer to Purchase is hereby amended and restated as follows:
THE FULL TEXT OF THE WRITTEN OPINION OF WASSERSTEIN PERELLA, DATED
AUGUST 31, 1998, WHICH SETS FORTH AMONG OTHER THINGS THE OPINIONS
EXPRESSED, THE ASSUMPTIONS MADE, PROCEDURES FOLLOWED, MATTERS CONSIDERED
AND LIMITATIONS OF THE REVIEW UNDERTAKEN IN CONNECTION WITH THE OPINION, IS
ATTACHED AS SCHEDULE III AND HOLDERS OF THE SHARES ARE URGED TO READ IT IN
ITS ENTIRETY. WASSERSTEIN PERELLA'S OPINION DOES NOT CONSTITUTE A
RECOMMENDATION TO ANY HOLDER OF SHARES AS TO WHETHER OR NOT SUCH HOLDER
SHOULD TENDER SHARES PURSUANT TO THE OFFER OR HOW SUCH HOLDER SHOULD VOTE
OR OTHERWISE ACT IN RESPECT OF THE OFFER, THE MERGER AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED THEREBY AND SHOULD NOT BE RELIED UPON BY ANY
HOLDER AS SUCH A RECOMMENDATION. THE SUMMARY OF THE OPINION OF
WASSERSTEIN PERELLA SET FORTH HEREIN IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO THE FULL TEXT OF THE OPINION ATTACHED AS SCHEDULE III.
The following paragraphs are hereby added immediately before the first full
paragraph on page 30 of the Offer to Purchase.
Preliminary drafts dated June 25, 1998, July 20, 1998, July 27,
1998 and August 3, 1998 of the final valuation report dated August 31,
1998 were presented to and discussed with the Special Committee on or
about such dates. See "Background of the Offer" above. Between June
25, 1998 and August 31, 1998, Wasserstein Perella conducted due
diligence with respect to the Company to refine its valuation analysis.
Based upon its ongoing due diligence, Wasserstein Perella refined the
discount rate, perpetuity growth rate and EBIT exit multiple assumptions
used in the discounted cash flow analyses for the Company's various
business segments, which had the effect of reducing the per share value
of the Company in some instances and had the effect of increasing the
per share value of the Company in other instances. The discounted cash
flow analyses in the preliminary presentations did not include certain
cost savings, synergies, research and development costs, litigation
expenses and other miscellaneous items that were taken into account in
the August 31, 1998 report, which had the effect of reducing the per
share value of the Company in some instances and had the effect of
increasing the per share value of the Company in other instances. The
draft reports dated June 25, 1998, July 20, 1998 and July 27, 1998 were
preliminary in nature and subject to revision and completion and, as a
result, were not material to the Special Committee's negotiations of the
terms of the contemplated transactions or its determination that the
Merger Agreement, the Offer, the Merger and the other transactions
contemplated by the Merger Agreement are advisable and fair to, and in
the best interests of, the Company and the Minority Stockholders.
On the other hand, the Special Committee did consider the August 3,
1998 preliminary report to be material to its negotiations of the
contemplated transactions and its determination that the Merger
Agreement, the Offer, the Merger and the other transactions contemplated
by the Merger Agreement are advisable and fair to, and in the best
interests of, the Company and the Minority Stockholders. However, the
August 3, 1998 preliminary report did not include the impact of the
recent erosion of the Company's market share which was reflected in
Wasserstein Perella's final valuation report. As stated in Wasserstein
Perella's August 31, 1998 report, compilation of the Company's fiscal
year 1998 financial results revealed that North American and Argentine
seed sales and market share would be significantly below projected
levels. The discounted cash flow analysis in Wasserstein Perella's
August 31, 1998 report took this new information into account and
reduced the projected market share growth assumptions, which had the
effect of reducing the per share value of the Company derived from the
discounted cash flow analysis by approximately $1.00 per Share.
-8-
The following paragraph is hereby added immediately following the first
full paragraph on page 34 of the Offer to Purchase:
Wasserstein Perella advised the Special Committee that the
comparability of these transactions to the Offer and the Merger was limited
by the fact that each of the four companies whose securities were acquired
was substantially larger than the Company in terms of sales, had a greater
market share than the Company with respect to its principal products and
was profitable.
The paragraph appearing under the heading "Composite Range" on page 35 of
the Offer to Purchase is hereby amended and restated as follows:
Composite Range. At the August 31, 1998 meeting of the Special
Committee, Wasserstein Perella provided the Special Committee with a
composite range of per share values of $25.00 to $35.00. In deriving this
composite range, Wasserstein Perella applied its professional judgment to
the foregoing analyses taking into account, among other things, that (i)
the Company historically has failed to achieve its operating projections
and the projections provided to Wasserstein Perella by management of the
Company were significantly higher than those included in the Company's 1997
business plan, (ii) the Company is projecting net operating losses for the
next several years, (iii) due to the fact that the Company is projecting
net losses for the next several years, the inherent uncertainty associated
with the success and timing of scientific research activities and the
historical uncertainty associated with the Company's cash flows, selection
of appropriate discount rates for purposes of the DCF analyses set forth
above involved a greater than usual degree of subjective judgment, and (iv)
the Company's competitors generally are significantly larger, better
established companies with much greater resources, larger market
capitalization, greater market share and a history of profits.
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ITEM 12. PRESENT INTENTION AND RECOMMENDATION OF CERTAIN PERSONS WITH
REGARD TO THE TRANSACTION.
(a) The Company believes that its executive officers and directors
will tender all Shares held by them in response to the Offer.
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ITEM 17. MATERIAL TO BE FILED AS EXHIBITS.
(a) and (f) . . . Not Applicable.
(b)-(e) . . . . . A list of exhibits filed with this Schedule 13E-3
is set forth on the Exhibit Index immediately
following the signature page of this Schedule 13E-3
and is incorporated herein by reference.
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.
Dated: September 25, 1998. THE DOW CHEMICAL COMPANY
By /s/ G. MICHAEL LYNCH
--------------------------------------
Name: G. Michael Lynch
Title: Vice President and Controller
ROFAN SERVICES INC.
By /s/ J. PEDRO REINHARD
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Name: J. Pedro Reinhard
Title: President
CENTEN AG INC.
By /s/ BRIAN G. TAYLORSON
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Name: Brian G. Taylorson
Title: President
DOW AGROSCIENCES LLC
By /s/ LOUIS W. PRIBILA
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Name: Louis W. Pribila
Title: Vice President, Secretary and
General Counsel
AGROSCIENCES ACQUISITION INC.
By /s/ BRIAN G. TAYLORSON
--------------------------------------
Name: Brian G. Taylorson
Title: President
MYCOGEN CORPORATION
By /s/ CARLTON J. EIBL
--------------------------------------
Name: Carlton J. Eibl
Title: President
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EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT NO. DESCRIPTION NUMBERED PAGE
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99(b)(1) Salomon Smith Barney Report to Dow AgroSciences LLC
dated August 3, 1998.*
99(b)(2) Wasserstein Perella & Co., Inc. Report to the Special
Committee of Mycogen Corporation dated August 3, 1998.*
99(b)(3) Wasserstein Perella & Co., Inc. Report to the Special
Committee of Mycogen Corporation dated August 31, 1998.*
99(b)(4) Opinion of Wasserstein Perella & Co., Inc. to the Special
Committee of Mycogen Corporation dated August 31, 1998.**
99(c)(1) Agreement and Plan of Merger among Mycogen Corporation,
Dow AgroSciences LLC and AgroSciences Acquisition Inc.
dated as of August 31, 1998. (Incorporated herein by
reference from Exhibit 99.1 to Amendment No. 15 to
Schedule 13D filed September 1, 1998).*
99(c)(2) Confidentiality Agreement among Mycogen Corporation, The
Dow Chemical Company and Dow AgroSciences LLC dated July
16, 1998.*
99(c)(3) Exchange and Purchase Agreement among Mycogen
Corporation, Agrigenetics, Inc., DowElanco and United
AgriSeeds, Inc. dated as of January 15, 1996
(Incorporated herein by reference from Exhibit 99(a)(1)
to Schedule 13D filed January 25, 1996).*
99(c)(4) Amendment to Exchange and Purchase Agreement between
Mycogen Corporation and Dow AgroSciences LLC dated as of
July 22, 1998 (Incorporated herein by reference from
Exhibit 99(1) to Amendment No. 14 to Schedule 13D filed
July 23, 1998).*
99(c)(5) Technology Agreement among Mycogen Corporation,
Agrigenetics, Inc. and DowElanco dated as of February
19, 1996 (Incorporated herein by reference from Exhibit B
to Exhibit 99(a)(1) to Schedule 13D filed January 25,
1996).*
99(c)(6) Brassica License and Research Agreement between Dow
Elanco Canada and Mycogen Corporation dated October 30,
1997.*
99(c)(7) Restated Loan Agreement between Dow AgroSciences LLC and
Mycoyen S.A. dated May 15, 1998.*
99(c)(8) Loan Agreement between Dow Elanco and Mycogen Corporation
dated as of April 1, 1997 (the "Dow Loan Agreement").*
99(c)(9) Amendment No. 1 to Dow Loan Agreement dated as of
September 29, 1997.*
99(c)(10) Amendment No. 2 to Dow Loan Agreement dated as of
November 14, 1997.*
99(c)(11) Amendment No. 3 to Dow Loan Agreement dated as of
November 18, 1997.*
99(c)(12) Amendment No. 4 to Dow Loan Agreement dated as of April
6, 1998.*
99(c)(13) Amendment No. 5 to Dow Loan Agreement dated as of October
1, 1997.*
99(c)(14) Loan Agreement between Mycogen Corporation and DowElanco
dated as of April 1, 1997 (the "Mycogen Loan Agreement").
99(c)(15) Amendment No. 1 to Mycogen Loan Agreement dated as of
April 6, 1998.*
99(c)(16) Amendment No. 2 to Mycogen Loan Agreement dated as of
October 1, 1997.*
99(c)(17) Memorandum of Understanding dated September 3, 1998.**
99(d)(1) Offer to Purchase dated September 4,
1998.*
99(d)(2) Form of Letter of Transmittal.*
99(d)(3) Form of Notice of Guaranteed Delivery.*
99(d)(4) Form of Letter to Brokers, Dealers,
Commercial Banks, Trust Companies and
other Nominees dated September 4, 1998.*
99(d)(5) Form of Letter to Clients for use by
Brokers, Dealers, Commercial Banks,
Trust Companies and other Nominees.
99(d)(6) Form of Option Election.*
99(d)(7) Form of Stock Purchase Election.*
99(d)(8) Form of Restricted Stock Election.*
99(d)(9) Guidelines for Certification of
Taxpayer Identification Number on
Substitute Form W-9.*
99(d)(10) Form of Summary Advertisement.*
99(e)(1) Chapter 13 of the California General Corporation Law
(Incorporated herein by reference from Schedule II to
the Offer to Purchase).*
99(g)(1) Complaint filed in Susser v. Mycogen Corporation et al.
(Superior Court of the State of California, County of San
Diego, filed May 1, 1998).*
99(g)(2) Complaint filed in Harbor Finance Partners v. Mycogen
Corporation et al. (Superior Court of the State of
California, County of San Diego, filed May 1, 1998).*
99(g)(3) Complaint filed in Ellis Investments, Ltd. v.
Eibl et al. (Superior Court of the State of California,
County of San Diego, filed May 1, 1998).*
99(g)(4) Complaint filed in Kolb v. Mycogen Corporation et al.
(Superior Court of the State of California, County of San
Deigo, filed May 5, 1998).*
99(g)(5) Complaint filed in Anderson v. Mycogen Corporation et al.
(Superior Court of the State of California, County of
San Diego, filed May 5, 1998).*
99(g)(6) Complaint filed in Boettcher v. Mycogen Corporation et al.
(Superior Court of the State of California, County of San
Diego, filed May 8, 1998).*
99(g)(7) Complaint filed in Verrone v. Mycogen Corporation et al.
(Superior Court of the State of California, County of San
Diego, filed May 15, 1998).*
99(g)(8) Order of Consolidation entered in Susser v. Mycogen
Corporation et al. (Superior Court of State of
California, County of San Diego, entered June 22, 1998).*
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* Previously filed with the original Schedule 13e-3 Transaction Statement
on September 4, 1998.
** Filed herewith.