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Monsanto Likes Bayer’s $66 Billion Offer
German chemical manufacturer Bayer ended months of bidding on Monsanto, by offering the U.S.-based seed and agricultural company $128 per share. The total $66 billion takeover of the U.S.-based Monsanto, assuming it closes, marks the largest all-cash deal on record.
The merger will also mean ownership of a quarter of the combined world market for seeds and pesticides. Before closing, however, the proposed merger will face a lengthy regulatory process in the U.S., Canada, Brazil and the European Union, as well as other countries. Monsanto’s chief executive Hugh Grant indicated the proposed merger will require both companies to file in 30 jurisdictions.
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