Deal to create chemical and agro giant still requires regulatory approval
NEW YORK—Monsanto Co. shareholders have voted to approve a proposed $57 billion takeover bid by Bayer AG, in a deal that would create a chemical and agriculture giant.
The companies still expect the deal to close by the end of 2017 and are currently seeking regulatory approval.
The major deal is expected to undergo significant scrutiny, however. The U.S. Senate looked into the deal earlier this fall, for instance.
Bayer AG, the German medicine and farm chemical maker, first offered to buy St. Louis-based Monsanto, which sells seeds and crop protection chemicals to farmers in September.
Shares of Monsanto Co. rose 55 cents to $105.14 shortly after the stock market opened Dec. 13.