German chemical giant Bayer has agreed to a $66bn (£50bn) deal to buy controversial US agrochemical giant Monsanto and create the world’s largest seeds and pesticides company.
The proposed deal, the biggest corporate takeover deal so far this year, follows a wave of consolidation in the seeds and agriculture industry and has raised concerns among scientists, regulators, farmers and activists who called the deal a “marriage made in hell”.
Werner Baumann, chief executive of Bayer, which is most famous for developing aspirin, said “the combination of our two great organizations [will] deliver substantial value to shareholders, our customers, employees and society at large”.
The Guardian: Bayer's $66bn takeover bid of Monsanto called a 'marriage made in hell'
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