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Bayer says clinches $66 billion Monsanto takeover

Bayer says clinches $66 billion Monsanto takeover

Bayer said on Wednesday it won over Monsanto's management with a $128 per share offer in cash, worth about $66 billion including debt, to take ove

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The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Photo

Bayer said on Wednesday it won over Monsanto’s management with a $128 per share offer in cash, worth about $66 billion including debt, to take over the global seed market leader.

The companies have agreed on an antitrust break fee of $2 billion and the deal is expected to be closed by the end of 2017, the German group said in a statement.

Bayer intends to finance the transaction with a combination of debt and equity. The equity component of approximately $19 billion is expected to be raised through mandatory convertible bonds and a rights issue, it added.

fonte reuters.com

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