BAYER CLINCHES TAKEOVER OF MON­SANTO WITH US$66B OF­FER

The Sun (Malaysia) - - SUNBIZ -

NEW YORK/FRANK­FURT: Ger­man drug and crop chem­i­cal maker Bayer clinched a US$66 bil­lion (RM272 bil­lion) takeover of US seeds com­pany Mon­santo yes­ter­day, end­ing months of wran­gling with a third sweet­ened of­fer that marks the largest all-cash deal on record.The US$128 a share deal will cre­ate a com­pany com­mand­ing more than a quar­ter of the com­bined world mar­ket for seeds and pes­ti­cides. How­ever, com­pe­ti­tion au­thor­i­ties are likely to scru­ti­nise the tie-up closely. The trans­ac­tion in­cludes a break-fee of US$2 bil­lion that Bayer will pay to Mon­santo should it fail to get reg­u­la­tory clear­ance. Bayer ex­pects the deal to close by the end of 2017. – Reuters

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