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9/14/2016, 12:18 PM (Source: TeleTrader.com)
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Bayer buys Monsanto in $66 billion deal

Monsanto accepted Bayer’s offer to take over its business in a deal estimated at $66 billion or $128 per share, the BBC reported on Wednesday.

The joining of the two firms will create the largest seeds and pesticides company in the world and the deal marks the largest corporate takeover by a German company for almost 20 years, according to Russia Today.

Bayer has been trying to acquire GMO maker Monsanto for months, raising offers on multiple occasions. When markets closed on Tuesday, Monsanto’s shares were worth $106.10.

The agreement, still awaiting official announcement from the companies, is expected to be of interest to antitrust regulators.

Breaking the News / VP