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Saturday, 18 August 2018

Bayer starts Monsanto integration as stock suffers

Bayer starts Monsanto integration as stock suffersGerman chemicals and pharmaceuticals giant Bayer said Thursday that it would begin integrating seeds and pesticides maker Monsanto after a mega-merger, but its stock price was battered by the US firm's legal woes. Two months after the $63 billion deal -- the biggest ever foreign takeover by a German company -- Bayer completed the sale of a final tranche of crop science businesses worth 5.9 billion euros ($6.7 billion) to rival BASF under concessions imposed by cartel watchdogs. With competition authorities' conditions met, "the integration of Monsanto into the Bayer Group can begin," the Leverkusen-based company said in a statement.




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