Bayer signs deal to acquire Monsanto for $66 billion

September 14, 2016 12:05 PM

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FRANKFURT, Germany (AP) - After months of courtship, German drug and farm chemical maker Bayer AG has finally reached an agreement to buy U.S. seed and weedkiller company Monsanto, in a deal that is valued at $66 billion and which will keep the merged entity's seed business in Monsanto's home base of St. Louis.

In a statement, Bayer said Wednesday it is paying Monsanto shareholders $128 per share - in cash. That represents a 44 percent premium over Monsanto's closing price on May 9, the day before a proposed deal was announced. The $66 billion figure put on the deal by Bayer includes net debt; the equity v...

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