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Bayer Closes Deal, Retires Monsanto Name

Bayer successfully completed the acquisition of Monsanto on Thursday,
retiring the Monsanto name. Acquired products by Bayer will retain brand
names and become part of Bayer's portfolio. However, company officials say
making the change will take some time. Shares in the U.S. company will no
longer be traded on the New York Stock Exchange, with Bayer now the sole
owner of Monsanto. Monsanto shareholders are being paid $128 per share.
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. The integration process is
expected to begin in approximately two months. Monsanto CEO Hugh Grant
said in a statement “the closing represents an important milestone toward
the vision of creating a leading agricultural company.” The acquisition is
the largest in Bayer’s history and doubles the size of its agriculture
business. The deal took two years to complete, and is valued at $63 billion.

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