Bayer became the sole share holder of Monsanto yesterday, June 7th. According to the conditional approval from the United States Department of Justice, the integration of Monsanto into Bayer can take place as soon as the divestments to BASF have been completed. This is expected to be in approximately two months. “We have diligently prepared for the upcoming integration over the past two years. Our extensive experience in integrating other large companies has proven that we can and will be successful,” said Werner Baumann, Chairman of the Board of Management of Bayer AG.
Bayer announced its intention to acquire Monsanto in May 2016. They signed an agreement to pay for the shares in September of 2016.
Bayer plans to further dialogue with their stakeholders, “[w]e aim to deepen our dialogue with society. We will listen to our critics and work together where we find common ground. Agriculture is too important to allow ideological differences to bring progress to a standstill. We have to talk to each other. We need to listen to each other. It’s the only way to build bridges,” said Baumann.
The Monsanto name will be retired. Going forward the company will just be known as Bayer.
“Today’s closing represents an important milestone toward the vision of creating a leading agricultural company, supporting growers in their efforts to be more productive and sustainable for the benefit of our planet and consumers,” said Hugh Grant, outgoing Chairman and CEO of Monsanto. “I am proud of the path we have paved as Monsanto and look forward to the combined company helping move modern agriculture forward.”
