Bayer to retire Monsanto name

Bayer to retire Monsanto name

Bayer's purchase of Monsanto is expected to close this week.

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June 4, 2018
Reuters
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Germany’s Bayer will wrap up the $63 billion takeover of Monsanto on Thursday and also retire the U.S. seeds maker’s 117 year-old name.

The German drugmaker had received all required approvals from regulatory authorities, it said in a statement on Monday.

“Bayer will remain the company name. Monsanto will no longer be a company name. The acquired products will retain their brand names and become part of the Bayer portfolio,” it said.

Bayer launched a 6 billion euro ($7 billion) rights issue on Sunday, a cornerstone of the financing package for the deal, shortly after clearing the last major antitrust hurdle in the United States.

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