Bayer confirms $66bn Monsanto takeover

September 14, 2016

FILE - The Oct. 2, 2013 file photo shows the logo of the chemical company Bayer at the Airport Berlin Brandenburg 'Willy Brandt', IATA code BER, in Schoenefeld, Germany. German drug and chemicals company Bayer AG confirmed Thursday, May 19, 2016 it has entered talks with the Monsanto Company about the possible acquisition of the U.S.-based specialist in genetically modified crop seeds. Leverkusen-based Bayer said in a short statement that its executives had met recently with their Monsanto counterparts "to privately discuss a negotiated acquisition of Monsanto Company." (AP Photo/Michael Sohn, file)

German chemicals giant Bayer has confirmed its record-breaking $66bn takeover of GM seeds business Monsanto - a deal that would create the world's biggest seeds and pesticides company. The offer, a record cash takeover, values Monsanto shares at $128 and will create a company worth $66bn (£50bn).

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