iStatus: Upcoming/New Filing
Acquirer: Bayer AG (Germany)
Acquired: Monsanto (US)
Value: Approx. US$66 Billion
Industry: Chemicals/Agrochemicals
On September 14, 2016, German based Bayer AG and U.S .based Monsanto Company announced that they signed a definitive merger agreement under which Bayer will acquire Monsanto for US$128 per share, with a total enterprise value of approximately of US$66 billion (See Monsanto Press Release (Sept. 14) here).
In a merger press conference on September 14, Bayer CEO Werner Baumann stated that “[w]e will proactively and voluntarily file for CFIUS review” (see transcript in Monsanto’s Schedule 14A SEC filing (Sept. 16) here). In a joint investor call that same day, Mr. Liam Condon, a member of the Bayer Board of Management, was positive that CFIUS “should not be an issue for either company”, noting that “in the US we are encouraged by the fact that the ChemChina Syngenta deal was approved from a CFIUS point of view” (see transcript at Ex.99.1 to Monsanto’s Schedule 14A SEC filing (Sept. 16) here).
The deal is expected to create a “global leader in agriculture”, with a broad portfolio, stronger R&D platform, and a “highly complementary” geographic footprint (see Investor Conference Call Presentation, dated Sept. 14, 2016, at Ex.99.1 Monsanto’s Schedule 14A SEC filing (Sept. 14) here).
