Bayer Clinches Monsanto Deal for $66 Billion
Bayer AG agreed to buy Monsanto Co. in a deal valued at $66 billion, winding up four months of talks to create the world’s biggest supplier of seeds and pesticides.
Bayer will pay $128 a share in cash, the company said in a statement Wednesday. The bid — this year’s biggest deal and the largest foreign takeover ever by a German company — was 21 percent above Monsanto’s closing price in New York on Tuesday.
The accord did little to bolster Monsanto’s stock in New York trading this morning, with its shares hovering at $106 a share as investors fret about regulatory approval for the deal amid a dramatic reshaping of the crop and seed industry. A year ago, the sector had at least a half-dozen global players. After Bayer and Monsanto tie up, creating a leader with $26 billion in combined revenue from agriculture, that number will shrink to just four. – READ MORE