September 15, 2016
Bayer agrees to buy Monsanto
Bayer AG has agreed to buy Monsanto Co. in a US$57 billion deal, the Wall Street Journal reports.
Bayer aims to complement its strength in pesticides, where it ranks among the world's largest suppliers, with Monsanto's capabilities in seed genetics and biotechnology, to create the world's biggest crop supply company by sales.
If the deal takes off, Bayer's focus will shift heavily towards high-tech crops with the long-term vision to sustain a growing world population.
The merger will require approval from about 30 regulatory agencies around the world, executives said, including antitrust enforcers already examining tie-ups between some of the companies' main rivals - Dow Chemical Co., DuPont Co., Syngenta AG and China National Chemical Corp.