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YINGTIANHUI
13
2016
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06
Germany's Bayer to buy Monsanto for $62 billion
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Sinochem new network news on May 23, Germany's Bayer (Bayer AG) announced that with $122 per share in cash to the world's largest seed company Monsanto (Monsanto) issued a takeover offer, with a total value of $62 billion.
According to Bayer's written proposal, based on May 10, 2016: the purchase price is a 37% premium to the price of $89.03 per share on May 9; a 36% premium to the weighted average stock price over the past three months; and a 33% premium to the weighted average stock price over the past six months.
Bayer said Monday it plans to finance the deal through bonds and stocks. Bayer expects the deal to bring about $1.5 billion in synergies over three years.
On May 18, Monsanto issued a statement saying it had received a non-binding offer from Bayer for a potential acquisition.
According to previous reports by Dow Jones, if the acquisition is reached, it will create the world's largest seed and pesticide company with annual sales of about $67 billion, and will also accelerate the integration of the agricultural industry.
Monsanto is the world's largest seed company by sales. If Monsanto can be acquired, Bayer's agricultural business will be further expanded, the current agricultural business in Bayer accounted for about 22%. Monsanto's seed and herbicide sales are $15 billion. If the two companies are merged, the agricultural business will account for about 40% of the combined company, and the rest will be pharmaceuticals and consumer health products.
If Bayer were to take Monsanto's world-leading seed business and Roundup-brand herbicide business, it would create a $67 billion-a-year company with products ranging from aspirin painkillers to genetic technology that helps crops resist pests and herbicides. Morgan Stanley (Morgan Stanley) estimates that the combined company will account for about 28% of the global pesticide market, about 36% of the U.S. corn seed market and 28% of the soybean seed market.
In recent years, the pattern of the global chemical industry has undergone tremendous changes, and "Big Mac"-level mergers and acquisitions have followed one after another.
Monsanto had previously offered to pay up to $47 billion for Swiss agrochemical giant Syngenta, but the latter rejected it as "too risky", and Syngenta later accepted a takeover offer from ChemChina. In February, ChemChina announced the acquisition of Syngenta for more than $43 billion.
In December last year, US chemical giants Dow Chemical and DuPont announced a $130 billion million merger, which is expected to be completed in the second half of this year. If the deal is completed, it will be the largest merger in the history of the chemical industry. In terms of sales revenue, the new company Dow DuPont may become the world's second largest chemical company after BASF.
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