Bayer said it has completed the acquisition in its Monsanto business.
Bayer said in a statement that “We are on track to achieve our annual targets,” said Werner Baumann, Chairman of the Board of Management, when he presented the interim report on Wednesday. EBITDA before special items increased thanks to growth at Crop Science and Animal Health.
Bayer has adjusted its Group outlook to account for the sales and earnings contributions from Monsanto from the date of the acquisition. The company aims to pay out a dividend per share for 2018 that is at least at the same level as in the prior year.
Bayer completed the acquisition of Monsanto on June 7, 2018, for 63 billion dollars including debt. “The acquisition of Monsanto brings together two strong and highly complementary businesses: Bayer’s innovative chemical and biological crop protection portfolio and Monsanto’s exceptional expertise in the field of seeds and traits,” said Baumann.
“We are now a leader in the agricultural industry with a clear commitment to innovation and sustainability – for the benefit of our customers and society,” he added. In addition to leveraging its employees’ extensive expertise in agriculture, Bayer now also has the strongest portfolio of seed and crop protection products for a wide range of crops and indications, the best research and development platform and the leading digital farming business.