FRANKFURT/NEW YORK (Reuters) - Chemicals and healthcare group Bayer AG (BAYGn.DE) is poised to announce the acquisition of U.S. seeds company Monsanto Co MON.N on Wednesday for more than $66 billion, clinching the biggest deal of the year, people familiar with the matter said. Bayer says it is paying Monsanto shareholders $128 per share, which represents a 44 percent premium over Monsanto’s closing price on May 9, the day before a proposed deal was announced. Antitrust experts have said regulators will likely demand the sale of some soybeans, cotton and canola seed assets as a condition for approving the deal. Bayer's move to combine its crop chemicals business, the world's second largest after Syngenta AG, with Monsanto's industry leading seeds business, is the latest in a series of major tie-ups in the agrochemicals sector. Bayer’s bid to combine its crop chemicals business, the world’s second-largest after Syngenta AG SYNN.S, with Monsanto’s industry leading seeds business, is the latest in a series of major consolidation moves in the agrochemical sector.
German chemicals company Bayer AG will announce that it has acquired American seeds company Monsanto Co. for US$66 billion.