ST. LOUIS — Following the completion of an acquisition St. Louis-based Monsanto, Bayer will strip the century-old agricultural company of its namesake.
Monday, pharmaceutical company Bayer announced plans to close the acquisition of Monsanto on Thursday, June 7. According to a press release, Bayer will remain the company name, noting that all the products acquired in the deal will retain their brand names and become part of the Bayer portfolio.
Last September, Monsanto accepted an offer from Bayer to $57 billion to its shareholders and assume $9 billion in debt.
Monsanto was founded in St. Louis in 1901 by John Francis Queeny.
