27 05 2016

Bayer offers USD 62 billion to acquire Monsanto to create a global leader in agriculture

Bayer AG offered $62 billion to buy Monsanto Co., deepening investor concern that it will strain its finances as it seeks to become the world’s biggest seller of seeds and farm chemicals.

The acquisition of Monsanto would be a compelling opportunity to create a global agriculture leader, while reinforcing Bayer as a Life Science company with a deepened position in a long-term growth industry. The combination is expected to provide Bayer’s shareholders with accretion to core EPS by a mid-single-digit percentage in the first full year after closing and a double-digit percentage thereafter. Buying Monsanto would allow Bayer to tap growing demand at a time when farmers must boost productivity to feed an estimated 10 billion people globally by 2050. BofA Merrill Lynch and Credit Suisse are acting as lead financial advisors to Bayer and support the financing of the transaction; Rothschild has been retained as an additional financial advisor to Bayer. Bayer’s legal advisors are Sullivan & Cromwell LLP (M&A) and Allen & Overy LLP (Financing). Clifford Chance advises Bank of America Merrill Lynch and Credit Suisse in relation to a syndicated loan agreement for Bayer AG for the financing of the acquisition of Monsanto, with a team led by partner Dr. Bettina Steinhauer (picture) and comprises counsel Dr. Mattias von Buttlar (both Banking & Capital Markets), partner Barbara Mayer-Trautmann, senior associate Susan Kelly (both Banking & Capital Markets) as well as partner Jay Gavigan, partner John Healy and senior associate Andrew Young. Bayer was advised in-house by Dr Jan Heinemann and Dr Martin Eisenhauer. Allen & Overy advises Bayer in connection with the financing of the acquisition with a team led by partner Dr Neil George Weiand (banking & finance, Frankfurt) and further comprises partner Thomas Neubaum and senior associate Dr Urs Lewens (both banking & finance, Frankfurt), partners Nicholas Clark and George Link (both banking & finance, London), partners Dr Hans Diekmann (corporate, Düsseldorf), Dr Oliver Seiler (capital markets, Frankfurt) and Dr Marcus Helios (tax, Düsseldorf) as well as partner Stephen Mathews (corporate, London). Involved fees earner: Bettina Steinhauer - Clifford Chance; Mattias von Buttlar - Clifford Chance; Barbara Mayer-Trautmann - Clifford Chance; Susan Kelly - Clifford Chance; Jay Gavigan - Clifford Chance; Andrew Young - Clifford Chance; John Healy - Clifford Chance; Thomas Neubaum - Allen & Overy; Urs Lewens - Allen & Overy; Neil George Weiand - Allen & Overy; Nicholas Clark - Allen & Overy; George Link - Allen & Overy; Hans Diekmann - Allen & Overy; Stephen Mathews - Allen & Overy; Oliver Seiler - Allen & Overy; Marcus Helios - Allen & Overy;

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