Bayer launches $9-billion cash call to fund Monsanto deal

Monsanto

The products of the US agrochemical company will instead become fully-integrated into Bayer's own portfolio from a marketing perspective. Monsanto is one of the world's largest manufacturers of genetically modified seeds, drawing the ire of some environmental activists. In 2016, Bayer announced plans to acquire Monsanto, and said in their statement they signed an agreement for $128 per share later that year - which corresponds to a total cost of around $63 billion this year, considering Monsanto's debt.

Now, as the merger approaches, Bayer has confirmed what many suspected: In the merger, the politically charged name "Monsanto" will be disappearing.

The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal Thomson Reuters FRANKFURT (Reuters) - Germany's Bayer will wrap up the $62.5 billion takeover of Monsanto on Thursday this week and also retire the name of the USA seeds maker, it said on Monday.

As agrichemical firms respond with new pesticides and resistant seeds, there are fears of an arms race with ever-more-potent weedkillers.

"If Bayer wants to be rid of Monsanto's bad reputation, it should demonstrate that it's different", Friends of the Earth Germany genetic modification expert Heike Moldenhauer said.

Some scientists already suspect glyphosate could cause cancer, with a 2015 World Health Organization study determining it was "probably carcinogenic" - although Bayer and other defenders of the chemical have contested the research.

Monsanto will soon be no more.

Stephens thrashes Kontaveit to reach French Open quarter-finals
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NPR's Charles has reported extensively on genetically modified organisms.

"We aim to deepen our dialogue with society".

With the world population set to reach nearly 10 billion people by 2050, Bayer argues its products and methods are needed to meet demand for food.

Bayer also plans to issue senior bonds in dollars and euros that will raise a combined €20 billion, it said.

"The acquisition of Monsanto is a strategic milestone in strengthening our portfolio of leading businesses in health and nutrition", CEO Werner Baumann said in a statement on Monday. "We have diligently prepared for the upcoming integration over the past two years".

Having thus cleared several competition law hurdles by divesting business units, Baumann told press that Bayer could now focus on achieving the synergy effects anticipated by from the merger.

Nevertheless, the ratings agency downgraded its score for Bayer's debt from "A-" to "BBB", while upgrading the outlook to "stable".

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