OR WAIT 15 SECS
Bayer will acquire the agricultural company for $66 billion in an all cash transaction.
On Sept. 14, 2016, Bayer and Monsanto signed a long anticipated merger agreement, under which Bayer will acquire the agricultural company for $128 per share, approximately $66 billion, in an all cash transaction. Bayer first proposed the merger in May 2016.
Some of Bayer’s shareholders have been critical of the move, saying the company “risks overpaying and neglecting the company’s pharmaceutical business,” Reuters reports. According to Reuters, the merger will have to be approved by multiple regulators, and the companies will have to file in approximately 30 jurisdictions. The merger is expected to close at the end of 2017.
The combined agriculture business will have its global Seeds & Traits and North American commercial headquarters in St. Louis, Missouri, its global Crop Protection and overall Crop Science headquarters in Monheim, Germany, and an important presence in Durham, North Carolina. The Digital Farming activities for the combined business will be based in San Francisco, California.