Deals
Bayer Soars as Monsanto Takeover Inches Closer to Finish Line
- Agreement in principle reached between companies, WSJ reports
- Bayer’s $66 billion deal would be largest in the industry
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Bayer AG rose the most in more than a year as the German company inches closer to completing the $66 billion acquisition of Monsanto Co., with a report of U.S. antitrust approval coming less than three weeks after European clearance.
The two companies have the green light from almost two-thirds of the jurisdictions that need to sign off on the biggest transaction in the seeds and crop-chemicals industry. The U.S., Russia and India remain, and on Monday the Wall Street Journal said the U.S. Department of Justice had decided to consent to the takeover, sending Monsanto shares higher on optimism about approval.