Acquisition of US ‘frankenstein’ foods company creates the world’s biggest maker of seeds and pesticides – but some analysts have lebelled it a ‘horror deal’
Bayer has clinched its takeover of controversial “frankenstein” foods company Monsanto for $66bn (£50bn) in a deal that creates the world’s biggest maker of seeds and pesticides.
The takeover, finalised today, is the largest ever by a German company and the biggest acquisition in the world this year, but some analysts have already labelled the deal a “horror story”.
The fee is more than a fifth higher than Monsanto’s closing price on Tuesday, and a full 45 per cent above the level its shares were trading at before Bayer showed an interest.
Bayer may also have to deal with a backlash over the deal. As a pioneer of genetically modified organisms, Monsanto has become a lightning rod for protest against the technology, which some environmental groups say is inadequately tested and potentially dangerous.
... Interesting amount of money.
For people who believe in the Devil's existence, that is.
GMO's gonna go global like never before now.
Wonder if it could have anything to do with bypassing possibly failed TTIP negotiations.
Faith receives, love gives. No one will be able to receive without faith. No one will be able to give without love. Because of this, in order that we may indeed receive, we believe, and in order that we may love, we give, since if one gives without love, he has no profit from what he has given. He who has received something other than the Lord is still a Hebrew. - Gospel of Philip