Editing Monsanto (section)

=== Sale to Bayer ===
In September 2016, Monsanto agreed to be acquired by [[Bayer]] for US$66 billion.<ref>{{Cite news|url=https://www.wsj.com/articles/bayers-all-cash-offer-values-monsanto-at-62-billion-1463981986|title=Bayer Makes $62 Billion Bid for Monsanto|last=Alessi|first=Christopher|date=May 23, 2016 |newspaper=The Wall Street Journal |issn=0099-9660|access-date=May 23, 2016}}</ref><ref>{{Cite news|url=https://www.bbc.co.uk/news/business-37361556|title=Bayer confirms $66bn Monsanto takeover|date=September 14, 2016|newspaper=BBC News|access-date=June 5, 2018}}</ref> In an effort to receive regulatory clearance for the deal, Bayer announced the sale of significant portions of its current agriculture businesses, including its seed and herbicide businesses, to [[BASF]].<ref>{{Cite news|url=https://www.wsj.com/articles/bayer-to-sell-assets-to-basf-for-7-billion-subject-to-monsanto-acquisition-1507877275|title=Bayer to Sell Assets to BASF for $7 Billion Amid Scrutiny of Monsanto Megadeal|last1=Shevlin|first1=Anthony|date=2017-10-13|work=[[The Wall Street Journal]]|access-date=2018-06-05|last2=Drozdiak|first2=Natalia|language=en-US|issn=0099-9660}}</ref><ref>{{Cite news|url=https://www.theglobeandmail.com/business/article-competition-bureau-asks-bayer-to-divest-some-canadian-assets-to-win/|title=Competition Bureau asks Bayer to divest some Canadian assets to win Monsanto deal approval|work=The Globe and Mail|access-date=2018-06-05}}</ref>

The deal was approved by the European Union on March 21, 2018,<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2018-03-21/bayer-clears-eu-hurdle-for-monsanto-deal-with-basf-sale-pledge|title=Bayer Clears EU Hurdle for Monsanto Deal With BASF Sale|first=Aoife|last=White|work=[[Bloomberg News]]|publisher=[[Bloomberg L.P.]]|location=[[New York City]]|date=March 21, 2018|access-date=March 21, 2018}}</ref><ref>{{Cite news|url=https://www.ft.com/content/8c3d51d0-6349-11e8-90c2-9563a0613e56 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/8c3d51d0-6349-11e8-90c2-9563a0613e56 |archive-date=December 10, 2022 |url-access=subscription|title=US set to approve Bayer-Monsanto deal with divestures|website=Financial Times|date=May 29, 2018|language=en-GB|access-date=2018-06-05|last1=Dye|first1=Jessica|last2=Shubber|first2=Kadhim}}{{subscription required}}</ref> and approved in the United States on May 29, 2018.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-05-29/bayer-wins-u-s-nod-for-monsanto-nearing-end-of-two-year-quest|title=Bayer Wins U.S. Approval for Monsanto After Two-Year Quest|date=2018-05-29|work=Bloomberg.com|access-date=2018-06-05|language=en}}</ref> The sale closed on June 7, 2018; Bayer announced its intent to discontinue the Monsanto name, with the combined company operating solely under the Bayer brand.<ref>{{Cite news|url=https://www.irishtimes.com/business/agribusiness-and-food/bayer-to-ditch-monsanto-name-after-closing-54bn-deal-1.3519972|title=Bayer to ditch Monsanto name after closing €54bn deal|newspaper=The Irish Times|access-date=2018-06-05|language=en-US}}</ref><ref>{{Cite news|url=https://www.cnbc.com/2018/06/07/germanys-bayer-closes-monsanto-deal-plans-to-drop-us-companys-name.html|title=Germany's Bayer closes $63 billion Monsanto takeover, plans to drop US company's name|last=Daniels|first=Jeff|date=2018-06-07|work=CNBC|access-date=2018-06-19}}</ref>

Under the terms of merger, Bayer promised to maintain Monsanto's more than 9,000 U.S. jobs and add 3,000 new U.S. high-tech positions.<ref>{{Cite news|url=https://www.reuters.com/article/bayer-monsanto-idINF9N0ZM02D|title=Bayer, Monsanto pledge U.S. R&D spending, jobs after merger|newspaper=Reuters |date=January 17, 2017|via=www.reuters.com}}</ref>

The prospective merger parties said at the time the combined agriculture business planned to spend $16 billion on research and development over the next six years and at least $8 billion on research and development in United States.<ref>{{Cite web|url=https://www.foxbusiness.com/markets/monsanto-shares-up-on-bayer-trump-promise-for-billions-in-u-s-investment-jobs|title = Monsanto Shares up on Bayer-Trump Promise for Billions in U.S. Investment, Jobs|website = [[Fox Business]]|date = January 13, 2017}}</ref>

Bayer would also establish its new global Seeds & Traits and North American commercial headquarters in St. Louis, Missouri.<ref>{{Cite web|url=https://www.missouripartnership.com/bayer-monsanto-complete-merger-establish-global-seeds-traits-north-american-headquarters-missouri/|title=Missouri Partnership &#124; Economic Development &#124; Bayer & Monsanto Complete Merger, Establish Global Seeds & Traits and North American Headquarters In Missouri|date=June 11, 2018|website=Missouri Partnership}}</ref>

The Bayer-Monsanto merger is widely considered to be one of the worst mergers in history, mostly due to the exposure to [[Roundup (herbicide)|Roundup]] litigation.<ref name=":4">{{Cite news |last=Farrell |first=Maureen |date=2023-12-06 |title=Years After Monsanto Deal, Bayer's Roundup Bills Keep Piling Up |language=en-US |work=The New York Times |url=https://www.nytimes.com/2023/12/06/business/monsanto-bayer-roundup-lawsuit-settlements.html |access-date=2023-12-06 |archive-url=https://web.archive.org/web/20231206112824/https://www.nytimes.com/2023/12/06/business/monsanto-bayer-roundup-lawsuit-settlements.html |archive-date=December 6, 2023}}</ref><ref name=":02"/><ref name="auto"/><ref name="auto1"/> By 2023, Bayer's market value had declined by over 60% since its 2016 merger, leaving the company's overall worth at less than half of what it paid to acquire Monsanto.<ref name=":4" />