BASF: acquisition of Bayer businesses an 'opportunity'.
(CercleFinance.com) - BASF said on Friday that acquiring parts of Bayer's seed and non-selective herbicide businesses was a good "opportunity" to buy highly attractive assets on key markets.
"It will be a strategic complement to BASF's well-established and successful crop protection business as well as to our own activities in biotechnology," said Kurt Bock, chairman of BASF's executive board.
This morning BASF said it has signed an agreement to acquire significant parts of Bayer's seed and non-selective herbicide businesses as part of its planned acquisition of Monsanto.
The all-cash purchase price is 5.9 billion euros.
BASF said the acquisition would complement its crop protection business, strengthen the company's herbicide portfolio and mark its entry into the seed business.
Frankfurt-listed BASF Shares were down 0.5% at 88.9 euros after this announcement.
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"It will be a strategic complement to BASF's well-established and successful crop protection business as well as to our own activities in biotechnology," said Kurt Bock, chairman of BASF's executive board.
This morning BASF said it has signed an agreement to acquire significant parts of Bayer's seed and non-selective herbicide businesses as part of its planned acquisition of Monsanto.
The all-cash purchase price is 5.9 billion euros.
BASF said the acquisition would complement its crop protection business, strengthen the company's herbicide portfolio and mark its entry into the seed business.
Frankfurt-listed BASF Shares were down 0.5% at 88.9 euros after this announcement.
Copyright (c) 2017 CercleFinance.com. All rights reserved.