Monday, May 23, 2016
Bayer has confirmed its offer to acquire Monsanto (NYSE:MON) with a $122 per share all-cash bid that values the U.S. agribusiness at $62B.
The drug and chemicals giant anticipates annual earnings contributions from synergies of around $1.5B after three years, and said it would finance the deal through a combination of debt and equity. Sources say Bayer (OTCPK:BAYRY) would likely abandon the Monsanto name following the purchase, like it has done with previous acquisitions.
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