Creve Coeur, MO (KTRS) The merger between Monsanto and Bayer is one step closer to becoming a reality.
Shareholders with the Creve Couer based company approved the merger with Bayer Tuesday morning. As part of the deal, Monsanto shareholders will receive $128 per share in cash at the closing of the merger.
“We are pleased we received such strong support from our shareowners,” said Hugh Grant, Monsanto Chairman and Chief Executive Officer.
“This is an important milestone as we work to combine our two complementary companies and deliver on our shared vision for the future of agriculture. By bringing together our expertise and our resources to drive this shared vision, we can do even more together to benefit growers around the world and to help address broad global challenges like climate change and food scarcity.” added Grant.
“The acquisition of Monsanto is driven by our strong belief that this combination can help address the growing challenges facing farmers and the overall agriculture industry today and in the future,” said Werner Baumann, CEO of Bayer AG. “Together, Bayer and Monsanto will be able to offer the new, innovative solutions that our customers need. We look forward to completing the transaction and working closely with Monsanto to ensure a successful integration.”
The deal is expected to be wrapped up by the end of 2017.