Bayer to Acquire Monsanto in $66 Billion Deal

German drugs and crop chemicals company Bayer will acquire seed firm Monsanto in a $66 billion cash bid, Reuters reported.

Bayer will pay $128 per share, after having increased its takeover offer for the third time. The deal, if approved by regulators, would create a company that controlled with more than a quarter of the combined world market for seeds and pesticides in the farm supplies industry.

The companies agreed on an antitrust break fee of $2 billion and the deal is expected to close by the end of 2017.

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