Biotech Giants Bayer and Monsanto Sign Mammoth Merger Agreement
The agritech world got a lot bigger this week when German chemical giant Bayer inked an agreement to acquire Monsanto for $66 billion in cash. The 2 companies had been bickering for months, and this was the 3rd refurbished offer. In the end, Bayer agreed to pay $128 per share, up from the company’s previous offer of $127.50. [1]
The agreement makes it the largest all-cash deal on record.
Markus Manns of Union Investment, one of Bayer’s top 12 investors, said:
