Bayer confirms closing date of Monsanto acquisition

Bayer, the German-based drug and crop chemicals maker announced Monday its acquisition of Monsanto will be finalized Thursday.

As part of the agreement, Bayer will no longer use the name Monsanto at its St. Louis facilities, which has been around for nearly 120 years.

The acquisition, which was first announced in 2016, is worth $62.5 billion.

After a months-long delay, Bayer got final approval on the deal last week for the takeover after having to sell some of its business holdings to comply with regulatory concerns.

The merger will create the world’s largest seeds and crop chemicals maker.

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