Bayer (OTCPK:BAYRY) agrees to sell significant parts of its crop science business to rival BASF (OTCQX:BASFY) for €5.9B ($6.98B), which it says will partially finance its planned acquisition of Monsanto (NYSE:MON).
"We are taking an active approach to address potential regulatory concerns, with the goal of facilitating a successful close of the Monsanto transaction", said Werner Baumann, Bayer's chief executive and chairman of the board of management. Bayer said that it agreed to the deal in light of its planned acquisition of Monsanto Co.
The 5.9-billion-euro ($7 billion) deal includes Bayer's glufosinate ammonium herbicide business, "essentially all" of its crop seeds units, and related research and development activities, the company said in a statement.
Pourquoi il pose problème à l'Assemblée nationale — Drapeau européen
Adopté en 1955 par le Conseil de l'Europe, le drapeau européen a été fortement inspiré par la religion chrétienne. Premier opposant sur toute la ligne.
This includes canola hybrids in North America under the InVigor brand using the LibertyLink trait technology, oilseed rape mainly in European markets, cotton in the Americas and Europe as well as soybean in the Americas, BASF said.
Under the deal, BASF will acquire Bayer's manufacturing sites for glufosinate-ammonium production and formulation in Germany, the USA and Canada, its seed-breeding facilities in the Americas and Europe and its trait-research facilities in the Americas and Europe. These employees are primarily located in the US, Germany, Brazil, Canada and Belgium, the company said.
The acquisition complements BASF's crop protection business, strengthens its herbicide portfolio and marks its entry into the seed business with proprietary assets in key agricultural markets.
- Lightning's Steven Stamkos scores first goal in almost a year
- Non, Google n'achètera pas Apple pour 9 milliards de dollars
- Microsoft Launcher For Android
- NAB references: Hearing adjourned due to police-lawyers spat outside accountability court
- Life is Strange Before the Storm, l'épisode 2 dévoilé !
- Day 1: GIC subscribed 0.75 times
- More than £170m in old pounds in our homes to become worthless
- Three people killed in skydiving accident at Mission Beach, Queensland
- SpaceX Orbits Dual-Purpose Satellite for SES, EchoStar
- Supreme Court to deliver verdict on women entering Kerala's Sabarimala temple today