Bayer to near Monsanto takeover, to retire goal's identify

Bayer to close Monsanto takeover, to retire target's name

FRANKFURT (Reuters) - Germany’s Bayer (BAYGn.DE) will wrap up the $62.5 billion takeover of Monsanto (MON.N) on Thursday this week and also retire the name of the U.S. seeds maker, it said on Monday.

FILE PHOTO: The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Photo/File Photo

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

“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.

Reporting by Ludwig Burger; Editing by Maria Sheahan

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July 16, 2018