FRANKFURT - German chemicals giant Bayer said Wednesday it had agreed to buy the controversial US seeds and pesticides firm Monsanto for $66 billion, in a deal that triggered immediate criticism from environmentalists. The deal is expected to be completed by the end of 2017, Bayer said, though it still faces regulatory approval. Added together, Bayer and Monsanto booked sales of 23 billion euros in 2015. "This mega corporation will be doing its best to force damaging pesticides and GM seeds into our countryside," campaigner Adrian Bebb said in a statement. Bayer will have to "decisively address the point of reputation and challenges of Monsanto in Europe," Baumann said when the German chemicals giant launched its takeover attempt.

Source: Bangkok Post September 14, 2016 13:50 UTC