Categories Earnings, Other Industries

Bayer-Monsanto merger finalized after years of pursuit

The days of waiting for Bayer is finally over. The Germany based pesticide firm has crossed the final hurdle in its $66 billion Monsanto (MON) takeover, with the US Department of Justice giving its blessing to the controversial merger of Bayer and the US-based seed maker.

After almost two years in pursuit, the deal between Bayer and Monsanto looks like it will finally go through the US antitrust sieve – with the two fusing to form the world’s largest seed and agricultural chemical provider. This approval comes as another blow for the struggling farmers who had earlier voiced concerns regarding a potential price hike. The environment groups and critics have also displayed their dismay towards the approval.

The Germany based pesticide firm has crossed the final hurdle in its $66 billion Monsanto (MON) takeover.

The clearance was granted after the two companies reached a decision to spin off assets worth $9 billion, making it the largest ever divestiture ever demanded by the regulators in the US. Based on the settlement, rival firm BASF will buy the assets from the Bayer. The divestment is seen as a remedy to competition. According to Bloomberg, Bayer is confident of closing the deal by June 14.

This controversial merger succeeded in getting a green signal from regulators in Europe, Brazil, Russia. The US regulators posed the final and the major hurdle.

The agri industry has seen quite a few significant deals in the past couple of years. Two major transactions that took place in 2017 were the merger of Dow-Dupont (DWDP) valued at $130 billion and Syngenta-ChemChina’s $43-billion deal.

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top