Bayer launched a €6 billion ($7 billion) rights issue on Sunday, a cornerstone of the financing package for the Monsanto deal. Photo: BloombergFrankfurt: Germany’s Bayer AG will wrap up the $63 billion acquisition of Monsanto on Thursday and also retire the US seeds maker’s 117 year-old name. The companies’ separately listed Indian units, Bayer CropScience Ltd and Monsanto India Ltd, will continue to operate independently for the time being, Bayer said in a separate statement. Bayer launched a €6 billion ($7 billion) rights issue on Sunday, a cornerstone of the financing package for the deal, shortly after clearing the last major antitrust hurdle in the United States. Agriculture is too important to allow ideological differences to bring progress to a standstill,” Bayer Chief Executive Werner Baumann said in the statement.

Source: Mint June 04, 2018 07:41 UTC