Bayer says clinches $66 billion Monsanto takeover

[September 14, 2016]    FRANKFURT (Reuters) - Bayer said on Wednesday it won over Monsanto's management with a $128 per share offer in cash, worth about $66 billion including debt, to take over the global seed market leader.

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

The companies have agreed on an antitrust break fee of $2 billion and the deal is expected to be closed by the end of 2017, the German group said in a statement. Bayer intends to finance the transaction with a combination of debt and equity. The equity component of approximately $19 billion is expected to be raised through mandatory convertible bonds and a rights issue, it added. (Reporting by Ludwig Burger; Editing by Arno Schuetze) [© 2016 Thomson Reuters. All rights reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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