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German Pharmaceutical and Chemical Giant Bayer Agrees to Buy Monsanto For $66 Billion

14Sep By PriyankaNo Comments

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German Pharmaceutical and Chemical Giant Bayer Agrees to Buy Monsanto For $66 Billion

German pharmaceutical and chemical giant Bayer AG today announced it will acquire global seed major Monsanto for USD 66 billion in an all-cash deal. Both Bayer and Monsanto have presence in India. The deal marks a major consolidation in global seed business. Recently, Monsantos rival Syngenta was acquired by ChemChina. "Bayer and Monsanto today announced that they signed a definitive merger agreement under which Bayer will acquire Monsanto for USD 128 per share in an all-cash transaction," Bayer said in a statement. The board of the two companies have unanimously approved the agreement, it said. The offer of USD 128 per share is 44 per cent higher than the closing price of Monsantos share on May 9, the day before Bayers first written proposal to Monsanto. "USD 128 per share in a...

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

U.S. biotech company Monsanto Co and Microsoft Corp announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said. Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity. "We want to foster new startups in the agricultural sector. There is a vast area for research and development," Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the ...

Leave India, We are Not Scared of You: Indian Government to Monsanto

U.S. seed company Monsanto is welcome to leave India if it does not want to lower prices of genetically modified cotton seeds as directed by the government, a minister said on Wednesday, in a sign the rift between New Delhi and the firm is widening. The comments come as Prime Minister Narendra Modi's nationalist government expects to develop its own genetically modified (GM) cotton varieties early next year to end Monsanto's dominance; it controls over 90 percent of cotton seed supply. New technologies are critical to lifting India's poor farm productivity, although even if India did develop a home-grown GM cotton variety in 2017, it would struggle to sustain a programme that needs to refresh seeds every decade or so, experts warned. The introduction of Monsanto's GM cotto...