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Monsanto Sued Over Alleged CEO, Board Bayer Merger Conflicts

  • CEO Grant may collect $18 million through deal, investor says
  • Monsanto says lawsuit in St. Louis court has no merit
Updated on

Monsanto Co. was sued on behalf of shareholders over claims its chief executive and board members stand to improperly profit from a planned acquisition by Bayer AG.

An investor alleges Monsanto Chief Executive Officer Hugh Grant stands to collect $18 million in cash and benefits, and that directors would similarly benefit from the merger. Grant and board members suffer conflicts of interest and have withheld information from investors in a bid to pursue the deal, according to the complaint.