Updated on 7 Nov 2017:
FRANKFURT/BRUSSELS (Reuters) - The European Commission has resumed its antitrust review of Bayer's planned takeover of U.S. seed maker Monsanto after the companies were given time to provide more information. The new deadline for the Commission to decide over the deal is now March 5, the antitrust regulator said on Monday.
This signal was originally written on 29 Sep 2016
Bayer and Monsanto have announced that they signed a definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all-cash transaction. Based on Monsanto’s closing share price on May 9, 2016, the day before Bayer’s first written proposal to Monsanto, the offer represents a premium of 44 percent to that price.
“We are pleased to announce the combination of our two great organizations. This represents a major step forward for our Crop Science business and reinforces Bayer’s leadership position as a global innovation driven Life Science company with leadership positions in its core segments, delivering substantial value to shareholders, our customers, employees and society at large,” said Werner Baumann, CEO of Bayer AG.
This realizes the companies’ shared vision of integrated agricultural offerings, in order to deliver enhanced solutions for growers, and create a leading innovation engine for the next generation of farming. The combination brings together two different, but highly complementary businesses. The combined business will benefit from Monsanto’s leadership in Seeds & Traits and Climate Corporation platform along with Bayer’s broad Crop Protection product line across a comprehensive range of indications and crops in all key geographies.
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