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6/4, 8:55 AM (Source: TeleTrader.com)
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Bayer, Monsanto deal to close on June 7

Bayer AG announced on Monday that its $62.5 billion acquisition of Monsanto Co. is expected to close on June 7 pending regulatory approval. The deal has already been greenlit by the European Union and the United States. The German pharmaceutical giant said it should see a positive contribution to its earnings per share starting from 2019, with "double-digit percentage" increase from 2021. According to the statement, Monsanto will no longer exist as a company name, while the acquired products will retain their brand names.

"The acquisition of Monsanto is a strategic milestone in strengthening our portfolio of leading businesses in health and nutrition. We will double the size of our agriculture business and create a leading innovation engine in agriculture, positioning us to better serve our customers and unlock the long-term growth potential in the sector," said Werner Baumann, Bayer's Chairman of the Board of Management.

Breaking the News / DJ