Bayer will complete the purchase of Monsanto on June 7
Published: June 4, 2018
Source : www.business-standard.com
Bayer plans to complete the acquisition of Monsanto on June 7, following the receipt of all required approvals, in India and abroad, from regulatory authorities for the $63-billion combination of the two multinational companies.
Globally, Bayer will remain the company name; all acquired products will retain their brand names and become part of the Bayer portfolio.
Bayer had announced its intention to acquire Monsanto in May 2016 and signed an agreement with the US company for $128 per share in September 2016. Currently, that corresponds to a total cost of about $63 billion taking into account Monsanto's debt outstanding as of February 28, 2018.
According to the conditional approval from the United States Department of Justice, the integration of Monsanto into Bayer can take place as soon as the divestments to BASF have been completed.
Bayer will remain the company name. Monsanto will no longer be a company name. The acquired products will retain their brand names and become part of the Bayer portfolio.
Report from Business Standard (www.business-standard.com). The complete story here: https://www.business-standard.com/article/companies/post-merger-the-name-will-simply-be-bayer-as-monsanto-becomes-history-118060400446_1.html.
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