Bayer be­gins open of­fer process for Mon­santo In­dia

Financial Chronicle - - MONEY - FC BUREAU

GER­MAN chem­i­cals and pharma ma­jor Bayer Group has launched the process for over Rs 1,300-crore open of­fer to ac­quire up to 26 per cent ad­di­tional stake in Mon­santo In­dia, fol­low­ing global ac­qui­si­tion of the US biotech firm for $63 bil­lion.

Bayer AG, along with its In­dian arm Bayer CropS­cience, has pro­posed to buy up to 44,88,315 shares, rep­re­sent­ing 26 per cent of the fully di­luted vot­ing eq­uity share cap­i­tal of Mon­santo In­dia, ac­cord­ing to a reg­u­la­tory fil­ing.

The open of­fer is set at Rs 2,926.87 a share and the max­i­mum size of the of­fer will be Rs 1,313.67 crore.

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