Tag: Bayer

Bayer to drop ‘Monsanto’ name upon completion of takeover this week

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GERMANY – Bayer, the multinational, pharmaceutical and life sciences company has said that it plans to drop the ‘Monsanto’ brand name as it looks forward to completing the acquisition of the US seeds giant on Thursday this week. The US$63 billion acquisition of Monsanto will form the world’s largest giant in chemical and biological crop protection products. All the acquired products and assets from Monsanto including seeds business will now bear Bayer’s name. For a long time, Monsanto has been a target of anti-GMO activists as its activities including genetic…

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Bayer receives US antitrust approval for US$66bn Monsanto bid

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USA – Bayer’s US$66 billion takeover bid for the US based agrochemical and biotechnology corporation, Monsanto, has cleared the last major regulation hurdle by receiving US antitrust approval to form one of the largest agri-chemical conglomerates in the world. CNBC reported that the approval by the Justice Department was granted on condition that Bayer agreed to sell agricultural businesses and assets worth about US$9 billion to chemical giant BASF, in one of the largest divestiture in American antitrust enforcement history. Decision by the US Justice Department clears doubts by the…

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Bayer-Monsanto bid gets another nod from US Justice Department

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USA – Bayer, the German multinational’s US$60 billion bid to acquire Monsanto has received an approval from the US Justice Department after both the companies made divestments to meet anti-trust requirements. The deal between the two forms one of the largest integrated pesticides and seeds company, a sector that has seen robust growth, coupled with new environmental regulations and changing crop mixes. The fact that the merger forms a conglomerate that would have a share of more than a quarter of the world’s seeds and pesticides market; regulators have raised…

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Lower corn sales plunge Monsanto’s Q2 revenue with 1.1% fall in net sales

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USA – Monsanto, the publicly traded American multinational agrochemical and agricultural biotechnology corporation has reported a 1.1% fall in net sales to US$5.02bn in the three months ended February 28 compared to a year earlier. The company recorded US$181m drop in corn seed sales, US$181m drop in corn seed sales with US sales being the most affected with a drop in planted acres for the grain in the season. Based on the report by the Department of Agriculture, US farmers are set to plant 88 million acres this year down…

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Bayer wins EU approval to take over Monsanto

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GERMANY – German agrochemicals giant Bayer has won EU antitrust approval for its $62.5 billion buy of U.S. peer Monsanto, the latest in a trio of mega mergers that will reshape the agrochemicals industry. The tie-up is set to create a company with control of more than a quarter of the world’s seed and pesticides market. Driven by shifting weather patterns, competition in grain exports and a faltering global farm economy, Dow and Dupont, and ChemChina and Syngenta had earlier led a wave of consolidation in the sector. Both deals…

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BASF in talks to acquire Bayer’s Seeds Business

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USA – BASF Corporation, the largest chemical producer in the world is holding talks with Bayer, the German multinational, pharmaceutical and life sciences company to acquire the latter’s vegetable seeds business, Nunhems. The two companies plan to reach a definitive agreement that will see BASF take over operations and assets in the business operating under the brand Nunhems. While BASF expects the transaction to strengthen its market position in seed and in agricultural solutions business, Bayer is making the divestment to focus on planned acquisition of Monsanto. In October 2017,…

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Bayer to sell its vegetable seeds business, transfer digital farming asset to satisfy EU

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GERMANY – German chemical giant Bayer AG on Wednesday said it was preparing to sell more assets to win antitrust approval for its $60 billion-plus takeover of Monsanto Co., as getting the regulatory green light takes longer than expected. Chief Executive Werner Baumann said the company was preparing the sale of another bundle of assets after agreeing in October to sell parts of its crop-science business to rival BASF SE for $7 billion. “We have now also committed to divest our entire vegetable-seed business, ” Mr. Baumann said, adding that…

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Bayer collaborates with Solidaridad to increase smallholder productivity

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GERMANY – Bayer, a pharmaceutical and life sciences company has announced its collaboration with Solidaridad specially to focus on small-scale farmers who have limited access to resources. According to the company, this partnership involves training and development and at the same time supporting farmers achieve socio-environmental certification standards. “Partnerships and collaboration are essential if we really want to make a difference in people’s lives,” said Mathias Kremer, Global Head Crop Strategies & Portfolio Management at Bayer. “Together with Solidaridad and Triptolemos we can achieve this – promote sustainable agricultural practices…

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Bayer donates US$600,000 to smallholder farmers in West Africa

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GERMANY – Bayer, German multinational, pharmaceutical and life sciences company has provided funding of about US$600, 000 in support of myAgro start-up innovation that purposed to assist smallholder farmers in Mali and Senegal. Bayer’s donation will help in expanding the initiative to the other African regions as well as help in the control of notorious worm infections, a bother to the farmers’ families, as well as used by the farmers to obtain high-quality seed and fertilizer. ‘myAgro’ company applies the mobile phone technology that allows farmers to save as little…

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BASF to acquire parts of Bayer’s seed and herbicide businesses

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GERMANY – Leading agrochemical company BASF has signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses, entering the key seeds business that it has been missing in its portfolio. The acquisition of the assets, as Bayer divests from some key areas as it seeks to placate regulators concerns as it moves to complete the acquisition of seed and agrochemicals giant Monsanto, is valued at €5.9 billion (US$7 billion). It comes at a time after Bayer, which has struggled to convince regulators in the key European…

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