The potential takeover of Monsanto by Bayer has been on the cards for a little while, however, many believed the process would never be allowed for monopoly rules.
We have just received news that the deal is to take place and Monsanto have accepted an offer of $66 Billion. This will make Bayer the biggest Agricultural GM Seed Giant in the World. It will also bring the profits from the taxes generated by the sale of Genetically modified foods into the hands of Europe, and thus encourage public acceptance of the technology.
USA Today reports:
Germany-based health and agricultural giant Bayer reached a deal to acquire seed and pesticide firm Monsanto for $66 billion in yet another jolt to a global agricultural sector that has been rocked by sluggish crop prices.
Bayer said Wednesday that it agreed to pay $128 per share in cash for St. Louis-based Monsanto after months of acquisition talks in which the pursuer sweetened its bid on multiple occasions.
Bayer’s move to combine its crop chemicals business, the world’s second-largest after Syngenta AG, with Monsanto’s industry-leading seeds business, is the latest in a series of major agrochemicals tie-ups.
The German company is aiming to create a one-stop shop for seeds, crop chemicals and computer-aided services to farmers.