LEVERKUSEN, GER – Moving one step closer to merging Monsanto’s operations with its own, Bayer has announced that the Monsanto shareholders have approved the impending move. The companies have been working toward this update since the merger was announced in September.

"The acquisition of Monsanto is driven by our strong belief that this combination can help address the growing challenges facing farmers and the overall agriculture industry today and in the future," said Werner Baumann, CEO of Bayer AG. "Together, Bayer and Monsanto will be able to offer the new, innovative solutions that our customers need. We look forward to completing the transaction and working closely with Monsanto to ensure a successful integration."

Monsanto held a special meeting of shareholders today to discuss the company’s merger with Bayer. According to a press release, around 99 percent of all votes cast were in favor of the merger. This number, in a preliminary tabulation, represented around 75 percent of all outstanding shares as of November 7.

Monsanto shareowners will receive $128 per share in cash at the merger’s close. The shareholders also approved the proposal to approve on an advisory basis certain compensation that may be paid or become payable to the company’s named executives in connection with the merger.

"We are pleased we received such strong support from our shareowners," said Hugh Grant, Monsanto Chairman and Chief Executive Officer. "This is an important milestone as we work to combine our two complementary companies and deliver on our shared vision for the future of agriculture. By bringing together our expertise and our resources to drive this shared vision, we can do even more together to benefit growers around the world and to help address broad global challenges like climate change and food scarcity."

The final voting results of Monsanto’s shareholders on all covered agenda items will be filed with the SEC in the company’s Form 8-K, in addition to being available for viewing here. 

Bayer and Monsanto’s closure is still subject to customary closing conditions, including the necessary securement of required regulatory approvals. Bayer, with Monsanto’s support, has submitted a number of filings, including the U.S. Hart-Scott-Rodino Act filing.

The merger is expected to close by the end of 2017.

As the two companies move ever-closer to combined entity, AndNowUKnow will have the latest news as it unfolds.

Bayer Monsanto