Germany’s Bayer completes purchase of Monsanto
German pharmaceutical company Bayer AG says it has completed its purchase of U.S. seed and weed-killer maker Monsanto Co.
Bayer said Thursday that it is now the sole owner of the company and Monsanto shares will no longer trade on the New York Stock Exchange. Bayer has put the cost of the deal at some $63 billion including debt.
To obtain regulatory approval, Bayer has committed to divest some businesses, agreeing among other things to the U.S. government’s demand that it sell about $9 billion in agriculture activities. It says the process of integrating Monsanto is expected to start in about two months.
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