Bayer AG BAYRY -0.40% fought hard to take over Monsanto Co. Today, the $63 billion gambit ranks as one of the worst corporate deals in recent memory-and is threatening the 156-year-old company's future.
Ten days after Werner Baumann became chief executive of Bayer in May 2016, he made a bid for Monsanto that was designed to turn the inventor of aspirin into the world's biggest crop-science business.
The extra heft would shield Bayer from unwanted suitors, people familiar with the Monsanto plans said.
Bayer has said the Monsanto deal wouldn't hold back investments in other divisions.
Bayer finally became Monsanto's official owner in June 2018, but it wasn't immediately allowed to run the business; the Justice Department had demanded the companies first sell some assets.
Aug. 16: Bayer can officially control Monsanto after completing asset sales required by regulators.
https://www.wsj.com/articles/how-bayer-monsanto-became-one-of-the-worst-corporate-dealsin-12-charts-11567001577?mod=hp_lead_pos5
Ten days after Werner Baumann became chief executive of Bayer in May 2016, he made a bid for Monsanto that was designed to turn the inventor of aspirin into the world's biggest crop-science business.
The extra heft would shield Bayer from unwanted suitors, people familiar with the Monsanto plans said.
Bayer has said the Monsanto deal wouldn't hold back investments in other divisions.
Bayer finally became Monsanto's official owner in June 2018, but it wasn't immediately allowed to run the business; the Justice Department had demanded the companies first sell some assets.
Aug. 16: Bayer can officially control Monsanto after completing asset sales required by regulators.
https://www.wsj.com/articles/how-bayer-monsanto-became-one-of-the-worst-corporate-dealsin-12-charts-11567001577?mod=hp_lead_pos5
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