Monsanto shareholders approve Bayer takeover

| | December 15, 2016
Screen Shot at PM
Werner Baumann, CEO of Bayer AG and Hugh Grant, Chairman and Chief Executive Officer of Monsanto. Photo by Monsanto
This article or excerpt is included in the GLP’s daily curated selection of ideologically diverse news, opinion and analysis of biotechnology innovation.

Monsanto Co. shareholders on Tuesday overwhelmingly approved a $57 billion merger with Bayer AG, a deal that would combine two of the world’s biggest agricultural companies.

Preliminary results showed that 99 percent of all votes cast favored the merger announced in September, St. Louis-based Monsanto said.

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Bayer, the German medicine and farm-chemical maker, and Monsanto, maker of seeds, herbicides and pesticides among other agricultural products, have faced concern from some government and ag industry leaders who worry the merger will hurt farmers by reducing competition at a time when the agriculture economy has slowed.

The National Farmers Union has said the merger would mean that three companies would have more than 80 percent of U.S. corn seed sales and 70 percent of the global pesticide market.

. . . .

Top officials for both companies say the merger will be a boost for farmers.

. . . .

Werner Baumann, CEO of Bayer, said the acquisition of Monsanto “is driven by our strong belief that this combination can help address the growing challenges facing farmers and the overall agriculture industry today and in the future.

The GLP aggregated and excerpted this blog/article to reflect the diversity of news, opinion and analysis. Read full, original post: Monsanto shareholders OK Bayer’s $57B takeover

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