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Bayer Closes Monsanto Acquisition
It’s official. Bayer bought Monsanto today. The German firm announced Monsanto shares will no longer be traded on the New York Stock Exchange.
Bayer announced this morning that Monsanto shareholders will receive $128 per share. The deal is on the condition that Bayer cannot integrate Monsanto until divestments to BASF have been completed.
This integration process is expected to commence in approximately two months. At that time, the Monsanto name will cease to exist.
As part of the deal, Bayer Crop Science is moving its North American headquarters from its current location in Research Triangle Park, North Carolina, to Monsanto facilities in St. Louis.
“There will be a huge emphasis on continuity with customers and no surprises,” says Condon.
“Today is a great day: for our customers – farmers around the world whom we will be able to help secure and improve their harvests even better; for our shareholders, because this transaction has the potential to create significant value; and for consumers and broader society, because we will be even better placed to help the world’s farmers grow more healthy and affordable food in a sustainable manner. As a leading innovation engine in agriculture, we offer employees around the world attractive jobs and development opportunities,” said Werner Baumann, chairman of the Bayer board of management in a Bayer news release. “Our sustainability targets are as important to us as our financial targets. We aim to live up to the heightened responsibility that a leadership position in agriculture entails and to deepen our dialogue with society.”
“Today’s closing represents an important milestone toward the vision of creating a leading agricultural company, supporting growers in their efforts to be more productive and sustainable for the benefit of our planet and consumers,” said Hugh Grant, outgoing chairman and CEO of Monsanto in a Bayer press release. “I am proud of the path we have paved as Monsanto and look forward to the combined company helping move modern agriculture forward.”