Bayer also plans to issue senior bonds in dollars and euros that will raise a combined €20 billion. Photo: ReutersLondon: Bayer AG is planning to raise €6 billion ($7 billion) in a rights offering and €20 billion from bond sales to help fund its $66 billion purchase of Monsanto Corp., an acquisition that received the blessing of US antitrust authorities last week after two years of negotiations. A group of 20 banks will underwrite the share sale, Bayer said. Bayer also plans to issue senior bonds in dollars and euros that will raise a combined €20 billion, it said. The agreement with the US Justice Department requires the sale of assets to BASF SE that Bayer has previously announced.

Source: Mint June 04, 2018 03:22 UTC