Bayer launches $7B rights issue to fund Monsanto deal
Bayer launched a $7 billion rights issue on Sunday for its $62.5 billion takeover of seeds maker Monsanto. Bayer is set to close the transaction on June 7. With this deal, Bayer will create an agricultural supplies giant with sales of about 20 billion euros in comparison to about 12.4 billion euros at DowDuPont’s Corteva Agriscience unit, 11 billion euros at ChemChina’s Syngenta and 7.9 billion at BASF.
