EU and US competition authorities will make significant demands in terms of requiring disposals and imposing trade restrictions.”The company has patented the Roundup-resistant seeds, effectively giving it a monopoly – a move that critics say makes farmers overly reliant on Monsanto.The fee is more than a fifth higher than Monsanto’s closing price on Tuesday, and a full 45 per cent above the level its shares were trading at before Bayer showed an interest.Monsanto has attracted criticism from environmental campaigners around the world for promoting the commercialisation of genetically modified organisms, known colloquially as “frankenfoods”.Are you sure you want to delete this comment?Last month Greenpeace revealed that the US firm had filed patents attempting to assert worldwide control over the breeding of certain pigs and their offspring.Werner Baumann, Bayer chief executive, hailed the deal which he said marks a “major step forward” for its agriculture and crop science business, which includes genetically modified crops.John Colley, a Professor at Warwick Business School who researches large takeovers said: “Apart from Monsanto’s shareholders, who have hit the jackpot, this looks like a lose-lose bid”.Bayer may also have to deal with a backlash over the deal. Werner Baumann single-handedly cut Bayer to the heart with his ego-driven non-sensical megalomania and investors will continue to pay for his hubris for years to come.On top of having to divest some of its existing business to satisfy regulators, Bayer also had to cut 10% of its workforce and restructure its operations in order to keep its head above water.Baumann took one in the teeth back in April 2019 when U.S. District Judge Vince Chhabria ordered the company into arbitration angering shareholders to the point of a non-confidence vote.It was a ballsy move on Baumann’s part as Bayer would not only assume Monsanto’s outstanding debt but would also inherit legacy litigation accusing Monsanto of developing a cancer-causing weed killer, Roundup.Share price plummeted to the point where Bayer’s market cap roughly equaled the Monsanto acquisition price and there was no end in sight as tens of thousands joined in to exact their pound of flesh.Today, Haussmann’s fears were realized, as a series of agreements were reached that would bring closure to about 75% of the outstanding claims against the company to the tune of approximately $8.8 billion to $9.6 billion.Medipharm Labs' (LABS.C) has agreed to supply premium, pharma-grade cannabis products to with Ottawa region...Within weeks of closing the deal, Bayer lost the first of three lawsuits attempting to defend the herbicide which saddled the company with damage payments of over $190 million. Start your Independent Premium subscription today.GMO varieties of corn and soybeans now account for more than 90 per cent of corn and soybean crops in the US, with Monsanto the dominant player.Monsanto’s Roundup herbicide, which is classified as “probably carcinogenic to humans” has attracted much of the criticism. Frequently Asked Supplier Questions on Monsanto Acquisition. On June 7, 2018, Bayer completed its all-cash acquisition of Monsanto for $128 per share, or $63 billion, including debt.
Start your Independent Premium subscription today.“Reputational concerns become an issue for Bayer with the GM foods campaign. Bayer AG (BAYN.FRA) rode a rickety roller coaster when the life science company announced it had acquired global ag biotech giant, Monsanto in June 2018, seemingly unaware of just how painful the transaction would be.
Bayer announced on June 7, 2018 that it completed its $63-billion acquisition of Monsanto. The most insightful comments on all subjects will be published daily in dedicated articles.
Bayer announced its intention to acquire Monsanto in May 2016 and formally announced the deal for $128 per share in September 2016.The deal corresponds to a total cost of approximately $63 billion taking into account Monsanto’s debt outstanding as of February 28, 2018, Bayer reports. Monsanto Acquisition. "The farmers will lose out as product ranges are rationalized and attempts are made to increase prices." It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. The herbicide kills most crops, apart from those Monsanto has genetically modified to be resistant to the chemical.Enter your email to follow new comments on this article.Are you sure you want to submit this vote?Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. A third Roundup-cancer verdict against Bayer took the company's stock down to an almost seven-year low. Bayer also must include an allowance for unresolved claims and $1.25 billion to support a separate class agreement for future potential future litigation.Rebecca Haussmann, the investor in question, was out for compensation and punitive damages because the aspirin maker publicly admitted it might have to sell assets, take on unfavorable loans and/or issue new equity to cover costs.Share price for the German-based firm climbed on the Frankfurt Exchange following today’s announcement, leaving the drug giant with a market cap of €68.76 billion (USD$77.39 billion) – just a ‘settlement’ more than the all-cash $63.0 billion acquisition of Monsanto.Bayer had taken on an enormous amount of debt to complete the transaction, ballooning its books from less than €3 billion to well over €40 billion by the second quarter of 2018.I know you guys are all hopped up on goofballs buying gold right now, and...A few days ago, World Class Extractions (PUMP.C) announced they'd done a deal with a...Gaalen is a writer, actor, producer, AV tech, Brazilian Jiu-Jitsu and Yoga enthusiast. The consolidation also leaves few buyers for any assets Bayer-Monsanto might need to sell to satisfy regulators.Are you sure you want to mark this comment as inappropriate?Want to bookmark your favourite articles and stories to read or reference later? We depend on the support of our trusted suppliers to continue to deliver value to farmers and transform agriculture around the world.
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