German chemical company Bayer and seed producer Monsanto have agreed on a deal to buy Monsanto for $ 65 billion, the Financial Times and Reuters reported, citing sources.
The companies agreed on the deal after Bayer raised its offer to buy Monsanto to $ 128 per share. The companies also approved a commission for canceling a deal of $ 2 billion.
The merger will enable the companies to create the largest seed and pesticide producer in the world.
Monsanto is an American company founded in 1901. World leader in the production of transgenic plant seeds, developer of the continuous herbicide Roundup. The patent for this product expired in 2000. Net profit in fiscal 2015 (ended August 31, 2015) - $ 2,31 billion, revenue - $ 15 billion.Market capitalization - $ 45,8 billion.
Bayer is a German chemical and pharmaceutical company. Founded in 1863. The company's net profit in the second quarter of 2016 amounted to € 1,38 billion.Market capitalization - € 79,5 billion.
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