Bayer and Monsanto Reach Agreement For Purchase Of Seed and Pesticide Company
Officials with the German drug and farm chemical company Bayer AG say a 66-billion dollar acquisition of Monsanto joins two different, but complimentary companies. Bayer has signed an agreement to buy the Missouri-based seed and weed-killer company for $128-a-share. That is a 44% premium over Monsanto’s closing price May 9th, the day before the original deal was made public. Monsanto shareholders have to approve the transaction, as do anti-trust regulators. The seeds business and North American headquarters will be in St. Louis.