Monsanto shares jump on report of US approval of Bayer deal

EU to greenlight Bayer-Monsanto takeover: source © 2018 AFP Near 1900 GM, Monsanto was up 6.5 percent at $125.47 after The Wall Street Journal reported US antitrust regulators would greenlight the mega-deal after the companies agreed to sell additional assets.US officials are requiring Germany’s Bayer to divest additional seed and seed-treatment assets and adjust its digital agriculture business, The Journal reported, citing people familiar with the situation.The European Union last month approved the deal following a pledge by the two companies to sell more than 6 billion euros ($7.4 billion) in assets.Chinese officials had previously approved the deal.The transaction, strongly criticized by farmers and environmentalists, was first announced in September 2016. The value of the deal was originally $66 billion but that was prior to a series of divestitures required by regulators. Explore further Citation: Monsanto shares jump on report of US approval of Bayer deal (2018, April 9) retrieved 18 July 2019 from https://phys.org/news/2018-04-monsanto-bayer.html Shares of agricultural giant Monsanto surged Monday following a report that the US Justice Department would approve its acquisition by Bayer, the last major hurdle facing the deal. US antitrust regulators are reportedly to greenlight the mega-deal after the companies agreed to sell additional assets This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

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