Monsanto shares jump on report of US approval of Bayer deal

April 9, 2018
US antitrust regulators are reportedly to greenlight the mega-deal after the companies agreed to sell additional assets
US antitrust regulators are reportedly to greenlight the mega-deal after the companies agreed to sell additional assets

Shares of agricultural giant Monsanto surged Monday following a report that the US Justice Department would approve its acquisition by Bayer, the last major hurdle facing the deal.

Near 1900 GM, Monsanto was up 6.5 percent at $125.47 after The Wall Street Journal reported US would greenlight the mega-deal after the companies agreed to sell additional assets.

US officials are requiring Germany's Bayer to divest additional seed and seed-treatment assets and adjust its digital agriculture business, The Journal reported, citing people familiar with the situation.

The European Union last month approved the deal following a pledge by the two companies to sell more than 6 billion euros ($7.4 billion) in assets.

Chinese officials had previously approved the deal.

The transaction, strongly criticized by farmers and environmentalists, was first announced in September 2016. The value of the deal was originally $66 billion but that was prior to a series of divestitures required by regulators.

Explore further: EU to greenlight Bayer-Monsanto takeover: source

Related Stories

EU to greenlight Bayer-Monsanto takeover: source

March 20, 2018

The EU is set to greenlight the proposed blockbuster buyout of US agri-giant Monsanto by German chemical firm Bayer after securing concessions in order to win approval, sources close to the matter said on Tuesday.

Bayer takeover of Monsanto would create global giant

May 19, 2016

Bayer's potential acquisition of Monsanto would create a giant seed and farm chemical company with a strong footprint in the U.S., Europe and Asia, combining two businesses with complementary geographical focus.

Bayer sells crop science units to ease Monsanto takeover

October 13, 2017

Germany's Bayer said Friday it would sell parts of its agrichemical business to rival BASF, kick-starting a competitor in the seeds market even as it clears the way for its mammoth takeover of US-based Monsanto.

Recommended for you

Google braces for huge EU fine over Android

July 18, 2018

Google prepared Wednesday to be hit with huge EU fine for freezing out rivals of its Android mobile phone system in a ruling that could spark new tensions between Brussels and Washington.

EU set to fine Google billions over Android: sources

July 17, 2018

The EU is set to fine US internet giant Google several billion euros this week for freezing out rivals of its Android mobile phone system, sources said, in a ruling that risks fresh tensions with Washington.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.