Bayer-Monsanto Deal Imminent, Will Create Crop King
German pharmaceutical giant Bayer AG (NYSE:BAYR) and Monsanto (NYSE:MON) are close to agreeing to a deal that will create the world's largest seed company, the FOX Business Network has learned.
Bankers with knowledge of the matter say barring a deal spoiler the merger could be announced in the next 24 to 48 hours. These bankers also tell FOX Business the deal is not complete and a hitch could delay the timing or upend the transaction.
Earlier this month Monsanto disclosed that it had received an unsolicited, non-binding proposal from Bayer AG for a potential acquisition of Monsanto and that the company was reviewing the deal.
A potential combo could be worth $44 billion and would give Bayer a sizable footprint in the genetically modified crop business, according to an earlier report in the Wall Street Journal. While GMO food has become controversial for companies including Chipotle (NYSE:CMG) it remains a lucrative business.
Monsanto shares have gained 8% this month as news of the deal surfaced.
Press people for Bayer and Monsanto weren't immediately available for comment at the time of publication.
Related Articles