Creating a global chemical and agricultural juggernaut, German pharmaceutical company Bayer announced Wednesday it has agreed to purchase Monsanto Co. — a global agricultural company and leading producer of genetically-engineered seed and glyphosate-based herbicide — for $57 billion.
“We are pleased to announce the combination of our two great organizations. This represents a major step forward for our Crop Science business and reinforces Bayer’s leadership position as a global innovation driven Life Science company with leadership positions in its core segments, delivering substantial value to shareholders, our customers, employees and society at large,” says Werner Baumann, CEO of Bayer AG.