Bayer is ready to close Monsanto deal with $7 bn cash
German pharmaceutical and chemical giant Bayer said on Sunday (Jun 3) it will raise up to €6 billion (US$7 billion) in fresh capital to help finance its takeover of US […]
Bayer
Bayer to sell unit to BASF to ease Monsanto takeover
Germany’s Bayer said Friday it would sell parts of its agrichemical business to rival BASF, kick-starting a competitor in the seeds market even as it clears the way for its mammoth takeover of US-based Monsanto.
Bayer is selling some of its Crop Science business to BASF to help clear the way for its pending $66 billion acquisition of Monsanto Co. Bayer announced Friday that it had signed an agreement to sell the units for 5.9 million euro, or about $7 billion.
"We are taking an active approach to address potential regulatory concerns, with the goal of facilitating a successful close of the Monsanto transaction,” Werner Baumann, Bayer chairman, said in a statement.
Monsanto accepts $66bn Bayer offer
Marriage between Bayer and Monsanto, giant seed, may be announced. As reported by the BBC website, after yet another revival of the German company that has put into the pot $ 130 per share, valuing the US group $ 66 billion, the leaders of American society have accepted the offer.