FRANKFURT: German chemical compounds giant Bayer stated on Wednesday it had signed a $66 billion (58.8 billion euros) takeover deal with US seeds and insecticides company Monsanto.
“Bayer and Monsanto today introduced that they signed a definitive merger settlement underneath which Bayer will accumulate Monsanto for USD 128 in step with proportion in an all-coins transaction,” the firms said in a declaration.
Bayer repeatedly expanded its provide to Monsanto since its first $122-in keeping with-percentage bid, but the US company had till now held out for extra coins.
“This represents a prime leap forward for our crop technology commercial enterprise,” Bayer chief government Werner Baumann said in the assertion.
The two corporations stated that the deal “brings collectively special, but exceptionally complementary” businesses.
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