ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Start ups
    • Funding
    • Appointments
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Monsanto shareholders back Bayer deal, CEO hopeful of U.S. approval

Increased research and development spending by the combined companies and plans to develop a global seeds and biotechnology hub in St. Louis fuel hopes regulators will not block the deal, which was agreed upon in September, Monsanto CEO Hugh Grant said.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Monsanto shareholders back Bayer deal, CEO hopeful of U.S. approval
Monsanto Co approved the company`s $66 billion acquisition by Bayer AG on Tuesday, a deal that still requires regulatory approval to close as expected in late 2017. Photo: Reuters

Shareholders of U.S. seeds and agrochemicals company Monsanto Co approved the company`s $66 billion acquisition by Bayer AG on Tuesday, a deal that still requires regulatory approval to close as expected in late 2017.

Increased research and development spending by the combined companies and plans to develop a global seeds and biotechnology hub in St. Louis fuel hopes regulators will not block the deal, which was agreed upon in September, Monsanto CEO Hugh Grant said.

"I think those augur well for the deal," he told Reuters in an interview.

If the deal closes, it will create a company commanding more than a quarter of the combined world market for seeds and pesticides in the fast-consolidating farm supplies industry.

Uncertainty about whether President-elect Donald Trump would stand in the way of large mergers after taking office in January has clouded the outlook of some deals. Trump vowed during his campaign to block AT&T Inc`s purchase of Time Warner Inc and look to break up Comcast Corp`s deal to buy NBC Universal, citing too much concentration of power.

The president does not directly decide if a merger is illegal under antitrust law. That is done by the U.S. Justice Department or Federal Trade Commission, which divide up the work of assessing mergers. If one of the agencies decides to stop a deal, it must convince a judge to agree.

Grant said he has not met with Trump or any of his transition team and did not elaborate on how the company was working to secure the deal.

The acquisition came after a string of large mergers that have roiled the agribusiness sector in the last year or so, including ChemChina`s purchase of Swiss chemicals company Syngenta AG and a merger of Dow Chemical and DuPont . 

DuPont`s chief executive, Ed Breen, said last week the incoming Trump administration is not likely to have an impact on his company`s merger with Dow Chemical.

Monsanto shares were up 0.4 percent at $105.00 on Tuesday afternoon, down from the $106.76 closing price on Sept. 14 when the Bayer deal was announced and well below the $128-per-share acquisition price.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Monsanto-Bayer dealMonsanto CompanyBayer AGDonald TrumpU.S. Justice Department or Federal Trade CommissionSyngenta AGDow ChemicalDuPontAgriculture
Written By: Reuters
Updated: Wed, Dec 14, 2016
09:57 am
Chicago, Reuters
RELATED NEWS
Monsanto shares rise over 4% as Bayer makes open offer to buy 26% stake Monsanto shares rise over 4% as Bayer makes open offer to buy 26% stake

LATEST NEWS

Piyush Goyal calls for creation of network of mentors, investors, entrepreneurs to strengthen start-up ecosystem

BPSC 68th admit card 2023 released at bpsc.bih.nic.in - Check exam date, steps to download, marking scheme, other details here

Adani Group-Hindenburg: What options Adani Group have? Anil Singhvi decodes

Hi-Tech Pipes declares stock split: Check ratio and record date

Gigabyte G5 GE Review: An efficient, budget gaming laptop for new gamers!

Google may release Pixel Tablet Pro with Tensor G2 chip

Adani Group-Hindenburg saga: MSCI seeks feedback on Adani Group over Hindenburg report

Italian automaker Automobili Lamborghini posts record sales in India last year, up 33% YoY

Address users’ complaints against social media firms: Govt notifies grievances appellate committees

Mughal Gardens at Rashtrapati Bhavan renamed Amrit Udyan, to open for public from January 31 - How to book tickets online, price and other details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV