Bayer set to close Monsanto deal on Thursday

Bayer plans to close its $62.5 billion acquisition of Monsanto on Thursday, nearly two years after first announcing the deal. The purchase will make Bayer, the German conglomerate, the world’s largest producer of seeds and agricultural chemicals, and it will bring an end to Creve Coeur-based Monsanto’s 117-year run as an independent company.

It marks the third in a series of big deals in the agribusiness industry, after Dow Chemical’s merger with DuPont and China National Chemical’s takeover of Syngenta.

Bayer won U.S. regulatory approval for the deal last week, and on Sunday the company launched a $7 billion rights issue, one of a number of equity and debt transactions it’s using to finance the deal.

The companies first agreed to the deal, at a price of $66 billion, or $128 per share, in September 2016. The $62.5 million price reflects the reduction of debt by Monsanto since then.

Read more: St. Louis Business Journal, Bloomberg


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