Germany-based Bayer to acquire pesticide firm Monsanto in $66-billion cash deal

September 14, 2016 12:05 PM

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German drug and farm chemical company Bayer AG 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% premium over Monsanto's closing price on May 9, the day before a proposed deal was announced.

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