Bayer closes Monsanto acquisition
By Top Crop Manager
Bayer successfully completed the acquisition of Monsanto on Thursday, June 7, 2018. The German company is now the sole owner of Monsanto Company and Monsanto shares will no longer be traded on the New York Stock Exchange. Monsanto shareholders are being paid $128 U.S. dollars per share.
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. This integration process is expected to commence in approximately two months.
The name Monsanto will soon cease to exist. All the acquired products will be moved under the Bayer portfolio but retain their brand names. Bayer Crop Science will also move its North American headquarters in North Carolina to Monsanto's facilities in St. Louis.
“Today’s closing represents an important milestone toward the vision of creating a leading agricultural company, supporting growers in their efforts to be more productive and sustainable for the benefit of our planet and consumers,” said Hugh Grant, outgoing chairman and CEO of Monsanto. “I am proud of the path we have paved as Monsanto and look forward to the combined company helping move modern agriculture forward.”
Liam Condon, member of the Bayer board of management, will lead the combined crop science division when the integration commences. Until that time, Monsanto will operate independently from Bayer.
Find more information at www.bayer.com and view Bayer's full media release