It’s official. The Bayer-Monsanto merger will finally close on Thursday. The new entity will keep the name Bayer and cast off the name Monsanto.
Though the physical closure of the more than $60 billion transaction will take place on Thursday, June 6, US regulators require the two companies to continue to function as separate entities until Bayer’s seed division, along with a few other portfolios, can be sold to BASF, as announced in April. Thanks to European regulators, this transaction likely won’t close for another two months, Liam Condon, CEO of Bayer CropScience, told reporters on a call Monday.
Until the divestments to BASF go through, Bayer is not legally allowed to gain access to Monsanto’s “confidential data,” as Condon described. Though Bayer will own Monsanto, it can’t look too deep under the hood just yet.
What we know so far about the post-merger reality (and it’s not much) suggests that casting off Monsanto’s name may be more of a gesture than a literal representation of the new reality. Bayer announced a handful of top executives at the integrated Bayer three weeks ago, but on the media conference call, Condon said that further details are likely to be delayed a few more months.
Read the full story at www.AgFunderNews.com.