Bayer Taking Steps to Fund Monsanto Acquisition

Dan Industry News Release

bayer monsanto
Dow Jones reports Bayer is taking steps to fund the company’s acquisition of Monsanto. Bayer announced this week the company has placed four billion euros—or the equivalent of $4.28 billion—in convertible notes in the first step for financing its $57 billion acquisition of Monsanto. Bayer said the notes would be converted into shares in November 2019, the first component of Bayer’s plan to raise about $19 billion in equity to fund the acquisition of St Louis, Missouri-based Monsanto. Bayer expects the acquisition to close by the end of 2017 and plans to submit its application to regulatory authorities in the European Union in the first quarter of next year and to U.S. authorities by the end of this year.

From the National Association of Farm Broadcasting news service.