Bayer closes Monsanto acquisition

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German chemicals and pharmaceuticals producer Bayer AG told press on Thursday that it had successfully completed the acquisition of U.S. agrochemical firm Monsanto, marking the end of the largest acquisition in the company's history.

Bayer paid Monsanto shareholders 128 U.S. dollars per share, according to the statement released by Bayer, which made the acquisition worth 63 billion U.S. dollars.

According to the conditional approval from the United States Department of Justice, the integration of Monsanto into Bayer can take place as soon as the divestments to BASF have been completed.

"This integration process is expected to commence in approximately two months," estimated Bayer.

"Our sustainability targets are as important to us as our financial targets. We aim to live up to the heightened responsibility that a leadership position in agriculture entails and to deepen our dialogue with society," said Werner Baumann, chairman of the Bayer Board of Management.

"Today's closing represents an important milestone toward the vision of creating a leading agricultural company, supporting growers in their efforts to be more productive and sustainable for the benefit of our planet and consumers," said Hugh Grant, outgoing chairman and CEO of Monsanto.

Monsanto will operate independently from Bayer until the integration commences. 

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