Monsanto has agreed to sell their company to Bayer which would make Bayer the largest seed and pesticide company in the world. With a purchade of $66 billion, the German pharmaceuticals and chemicals giant, will own more than one-fourth of the combined global market for seeds and pesticides.
Today we reached an agreement w/ @MonsantoCo to create an industry leader #AdvancingTogether https://t.co/zFRZrCDvU7 pic.twitter.com/SIq6iwDPFn
— Bayer AG (@Bayer) September 14, 2016
“The deal gives Bayer more than 2,000 varieties of seeds for crops such as corn, soybeans, and wheat. Adding that portfolio to its own vegetable, rice, cotton and oilseed offerings give Bayer a virtually unassailable position at the head of the market,” say Bloomberg.
This move is quite an interesting move for Bayer as GMOs are not widely accepted in Europe. Many European Union countries have strict rules about GMO selling and consuming.
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