Bayer to buy Monsanto for $66 billion

September 14, 2016 12:05 PM

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FRANKFURT, Germany — German drug and farm chemical company Bayer says it has signed a deal to acquire seed and weed-killer company Monsanto for $66 billion in cash.

Bayer says it is paying Monsanto shareholders $128 per share, which represents a 44 percent premium over Monsanto’s closing price on May 9, the day before a proposed deal was announced.

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