Bayer to ditch Monsanto name after mega-merger

June 4th, 2018

Awake Goy

“Bayer will remain the name of the firm. Monsanto will be discontinued as the name of the business,” the Leverkusen-based group said in a statement, adding that it expects to close the €54 billion deal on Thursday.

Bosses plan to name the merged agrichemical division Bayer Crop Science once the buyout is complete, German business newspaper Handelsblatt reported, citing “industry sources”.

Bayer’s takeover bid for Monsanto targets the St Louis-based company for its high-tech genetically modified seeds, many designed to produce crops resistant to its proprietary pesticides.

The mammoth deal will produce a global giant with 115,000 employees and revenues of some €45 billion.

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