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posted by cmn32480 on Thursday September 15 2016, @02:46PM   Printer-friendly
from the gimme-an-aspirin dept.

German drugs and crop chemicals company Bayer has won over U.S. seeds firm Monsanto with an improved takeover offer of $66 billion including debt, ending months of wrangling after increasing its bid for a third time. The $128 a share deal announced on Wednesday, up from Bayer's previous offer of $127.50 a share, is the biggest of the year so far and the largest cash bid on record.

The transaction will create a company commanding more than a quarter of the combined world market for seeds and pesticides in a fast-consolidating farm supplies industry. However, competition authorities are likely to scrutinize the tie-up closely, and some of Bayer's own shareholders have been critical of a takeover plan which they say is too expensive and risks neglecting the company's pharmaceutical business.

"Bayer's competitors are merging, so not doing this deal would mean having a competitive disadvantage," said Markus Manns, a fund manager at Union Investment, one of Bayer's top 12 investors, according to ThomsonReuters data.

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  • (Score: 2) by Joe Desertrat on Thursday September 15 2016, @05:22PM

    by Joe Desertrat (2454) on Thursday September 15 2016, @05:22PM (#402371)

    I guess any corp can be bought and sold though. They are all in it for the money, and damn everything else.

    Most likely scenario is that the largest stockholders figure the risk of loss from the lawsuits is higher than the certain pay off from selling out now, so they are skipping out on the company.

    Starting Score:    1  point
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    Total Score:   2  
  • (Score: 2) by Runaway1956 on Friday September 16 2016, @02:49PM

    by Runaway1956 (2926) Subscriber Badge on Friday September 16 2016, @02:49PM (#402807) Journal

    Yes, that's exactly how the talk show host painted the picture. Exactly. Let Bayer handle any costs, including settlements, we've already got ours.

    We've finally beat Medicare! - Houseplant in Chief