Bayer Buys Monsanto: Bayer agreed to buy Monsanto Co. in a deal valued at $66 billion (INR 4.41 Lakh Crore), 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 is 21 percent above its Market value.
The transaction caps 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.
Bayer AG is a German multinational chemical and pharmaceutical company founded in Barmen, Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany, where its illuminated sign is a landmark.
CEO: Werner Baumann
Headquarters: Leverkusen, Germany
Subsidiaries: Covestro, Bayer Corporation, Currenta, more
Parent organization: Capital Group Companies
About MONSANTO Co.:
Monsanto Company is a publicly traded American multinational agrochemical and agricultural biotechnology corporation headquartered in Creve Coeur, Greater St. Louis, Missouri.
Headquarters: St. Louis, Missouri, United States
First product: Saccharin
Founder: John Francis Queeny
Founded: 1901, St. Louis, Missouri, United States
Subsidiaries: Seminis, Delta & Pine Land Company of Mississippi.
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