Today, Monsanto shareholders voted to approve a bid by German pharmaceutical and chemical giant, Bayer, to purchase Monsanto for US $ 66 billion, in a merger that would effectively create the world’s largest supplier of seeds and agricultural chemicals.
St. Louis, Missouri/USA – The next mega-takeover in chemicals takes another important step: In a Monsanto shareholder meeting, approximately 99 percent of all votes cast, which represents approximately 75 percent of all outstanding shares, approved the takeover offer of chemicals heavyweight Bayer. The German company has offered US $ 128 per share in cash, putting the whole takeover at a total of US $ 66 billion.
“We are pleased we received such strong support from our shareowners,” said Hugh Grant, Monsanto Chairman and Chief Executive Officer. “This is an important milestone as we work to combine our two complementary companies and deliver on our shared vision for the future of agriculture. By bringing together our expertise and our resources to drive this shared vision.“
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“The acquisition of Monsanto is driven by our strong belief that this combination can help address the growing challenges facing farmers and the overall agriculture industry today and in the future,” said Werner Baumann, CEO of Bayer AG. “Together, Bayer and Monsanto will be able to offer the new, innovative solutions that our customers need. We look forward to completing the transaction and working closely with Monsanto to ensure a successful integration.”