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Bayer signs off on $63 billion deal for Monsanto

By Aerin Einstein-Curtis contact

- Last updated on GMT

© Bayer
© Bayer
Bayer AG has been successful in its attempt to purchase the US company, having cleared all regulatory hurdles.

Germany-based, Bayer, is now considered the sole owner of the St Louis, Missouri headquartered, Monsanto, it reported.

The meger received conditional approval from the US Department of Justice’s antitrust division at the end of May. European regulators also backed the deal.

Bayer said shares of Monsanto will no longer trade on the New York Stock Exchange. It announced that it will retire the Monsanto brand name, with the integrated company bearing the Bayer name only.

To appease regulators on the competition front, Bayer had agreed to sell about €7.6bn ($9bn) in assets to BASF. They include field seeds as well as its vegetable-seeds business, some seed treatments and digital farming projects.

The integration of Monsanto into Bayer has been approved to start as soon as those divestments to BASF have been completed, it added.

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