- It's official: Bayer (OTCPK:BAYRY) agrees to acquire Monsanto (MON) for $128/share in cash, in a deal that values MON at ~$66B.
- The offer represents a 44% premium to MON's closing share price on May 9, the day before Bayer's first written takeover proposal.
- Bayer expects annual synergies of ~$1.5B after year three; plus additional synergies from integrated solutions in future years.
- Bayer has committed to a $2B reverse antitrust break fee, reaffirming its confidence that it will obtain the necessary regulatory approvals.