Monsanto name disappears in merger with Bayer

07 June, 2018, 04:49 | Author: Eric Barnett
  • Monsanto

It "intends to use the net proceeds from this transaction and the bond issues to repay amounts drawn under the syndicated loan facilities agreement for the acquisition of Monsanto".

Bayer's Monsanto acquisition will formally close on 7 June, the Frankfurter Allgemeine Zeiting reported. The products of the US agrochemical company will instead become fully-integrated into Bayer's own portfolio from a marketing perspective. At present, that corresponds to a total cost of about $63 billion taking into account Monsanto's debt outstanding as of February 28, 2018.

Around the turn of the 20th century, [Olga Monsanto] married a man named John Francis Queeny. Big agriculture in general, of which Monsanto was the reviled figurehead.

What do you think of Bayer dropping Monsanto's name, PR Daily readers?

The German drugmaker had received all required approvals from regulatory authorities, it said in a statement on Monday.

But Bayer executives insisted that Monsanto practices rejected by environmentalists, including genetic modification of seeds and deployment of "crop protection" technologies like pesticides, were vital to help feed a growing world population. In a way, it's an indication of how successful anti-Monsanto protesters have been in shaping public perception.


"We will listen to our critics and work together where we find common ground", Baumann said, but added that "agriculture is too important to allow ideological differences to bring progress to a standstill". "The merger (of Bayer and Monsanto) will enable to us to deliver more innovations faster and offer agricultural producers across the world tailored solutions", a statement by Liam Condon, the head of Bayer's Crop Science, division published on Monday read. "It's the only way to build bridges", said Bauman.

When launching the Monsanto takeover bid, Bayer also promised it would not introduce genetically modified crops in Europe.

For the uninitiated, the acquisition is the first of the three pivotal U.S.

In the USA, one question is whether protesters who have joined "Marches Against Monsanto" will "still march if there's no Monsanto", he says. According to Monsanto, it will continue to operate independently from Bayer for an interim period while Bayer ties up some loose ends, as might be expected when rebranding a $60 billion agri-chemical giant. That's a discount of about 22% to the German company's June 1 closing price.

By any name, it will be the world's largest seed and ag-chemical company.

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