More details are emerging about Bayer’s possible acquisition of Monsanto. In a joint statement Tuesday, Bayer, the German chemical and pharmaceutical conglomerate, and Monsanto, the Creve Coeur-based agrochemical company, said there are plans to invest $16 billion in agricultural research and development over six years, with at least $8 billion of that in the U.S.
Depending on how it’s broken down, the $16 billion outlay could represent an increase from Monsanto’s current spending levels of $1.5 billion annually on research and development.
Incoming White House Press Secretary Sean Spicer said Bayer will keep all of Monsanto’s U.S. workforce, which is more than 9,000 jobs, and create another 3,000 high-tech positions in the U.S.
Some of those jobs could be coming to the St. Louis region. The companies say it all amounts to an “investment in the U.S. Heartland” and they have reiterated plans for the worldwide seeds research and development headquarters to be in St. Louis.