Bayer AG is planning to raise €6 billion ($7 billion) in a rights offering and €20 billion from bond sales to help fund its $66 billion purchase of Monsanto Corp., an acquisition that received the blessing of United States antitrust authorities last week after two years of negotiations.
According to the USA decision, the acquisition of Monsanto can happen as soon as planned divestments have been accomplished, Bayer said, adding this was likely within two months.
Retiring Monsanto's name from Bayer's portfolio is, apart from standard M&A practice, a prudent public relations move for the German company.
Bayer also grossed €7.6-billion in proceeds from selling assets to BASF, as the antitrust reviews were stricter than anticipated, but that did not cut the need to raise money via a share issue because future cash flows to service debts would also be lower.
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Around the turn of the 20th century, [Olga Monsanto] married a man named John Francis Queeny.
Monsanto is also moving to invest more deeply in advanced tools for gene editing, a process that can be capitalized on for agricultural purposes to make cheaper but higher-quality produce.
Critics of the Bayer-Monsanto merger have warned that it could tarnish the former's reputation given that Monsanto is mainly known in Europe as the producer of the controversial genetically-modified crops and the potentially-carcinogenic pesticide "glyphosate". In a way, it's an indication of how successful anti-Monsanto protesters have been in shaping public perception. Baumann said: "We aim to deepen our dialogue with society". Agriculture is too important to allow ideological differences to bring progress to a standstill. "It's the only way to build bridges".
NPR's Charles has reported extensively on genetically modified organisms.
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For the uninitiated, the acquisition is the first of the three pivotal U.S.
Meanwhile, in Europe, there has always been broad opposition to genetically modified crops.
In order to allay regulatory concerns, Bayer agreed to the divestiture of certain businesses, which generated €2.2 billion in sales in 2017 for an aggregate base purchase price of €7.6 billion. "Would that matter? It's hard to say, but it seems possible". It's a combination of equity and debt transactions, some of which have already been completed, the company said in a news release.
By any name, it will be the world's largest seed and ag-chemical company.
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