Equities

Reuters reveals Bayer to win EU approval for $62.5 billion Monsanto deal; market reacts

Reuters reveals Bayer to win EU approval for $62.5 billion Monsanto deal; market reacts

On Feb. 28, Reuters exclusively reported German drug and crop chemicals maker Bayer is set to win conditional European Union antitrust approval for its $62.5 billion bid for world No. 1 seed company Monsanto. The takeover, one of a trio of major deals in the agribusiness sector in recent years, would create a company with a share of more than a quarter of the world’s seed and pesticides market. Following the Reuters report, Bayer’s shares trimmed losses and ended 1.9 percent down.