Monsanto Co., which is in the process of being acquired by Germany’s Bayer AG for $66 billion, swung to a quarterly profit, helped by higher demand from South America.
Sales of soybean seeds and traits jumped 37 percent as more farmers in South America sowed the company’s genetically modified soybean seed Intacta RR2 Pro.
But how Monsanto is navigating through a souring U.S. agricultural market has been closely watched by Bayer’s investors, who have backed the German pharmaceutical conglomerate’s bid to acquire the world’s largest seed company.
Monsanto shareholders voted in December to approve a sweetened $128-per-share offer from Bayer that, if approved by regulators, would create a company commanding more than a quarter of the world market for seeds and pesticides and be the largest-ever cash takeover of a U.S. company.
Read more: St. Louis Post-Dispatch