<p class="title">German chemicals and pharma major Bayer group has launched the process for over Rs 1,300 crore open offer to acquire up to 26% additional stake in Monsanto India, following global acquisition of the US biotech major for $63 billion.</p>.<p class="bodytext">Bayer AG, along with its Indian arm Bayer CropScience, has proposed to buy up to 44,88,315 shares, representing 26% of the fully diluted voting equity share capital of Monsanto India, according to a regulatory filing.</p>.<p class="bodytext">The open offer was triggered as Bayer group has completed the $63 billion mega-deal to acquire Monsanto to create the world's biggest agro-chemical and seed company.</p>.<p class="bodytext">The deal resulted in Bayer group indirectly acquiring 72.14% stake in Monsanto India Ltd.</p>.<p class="bodytext">Bayer group has fixed the open offer price at Rs 2,926.87 per share and the maximum size of the open offer will be Rs 1,313.67 crore, Monsanto India said in the filing to the BSE.</p>.<p class="bodytext">The open offer will commence on July 27. On June 7, Bayer group closed the acquisition of Monsanto in a multi-billion dollar deal, which was announced in September 2016, after it got all necessary regulatory approvals from various countries including the US and India.</p>.<p class="bodytext">Bayer group is present in India since 1896 and it has two divisions -- crop science and pharmaceutical. The group has one listed entity in India -- Bayer CropScience Ltd that posted a revenue from operation of nearly Rs 3,000 crore last fiscal.</p>.<p class="bodytext">Bayer India had an annual revenue of 600 million euros (about Rs 4,700 crore) in 2017, Richard van der Merwe, the senior Bayer representative, South Asia, had said in January this year.</p>.<p class="bodytext">Monsanto is selling genetically modified (GM) cotton seeds in India for more than a decade. With this deal, Monsanto would add seed business to Bayer's already significant crop science and pharmaceutical business in India. </p>
<p class="title">German chemicals and pharma major Bayer group has launched the process for over Rs 1,300 crore open offer to acquire up to 26% additional stake in Monsanto India, following global acquisition of the US biotech major for $63 billion.</p>.<p class="bodytext">Bayer AG, along with its Indian arm Bayer CropScience, has proposed to buy up to 44,88,315 shares, representing 26% of the fully diluted voting equity share capital of Monsanto India, according to a regulatory filing.</p>.<p class="bodytext">The open offer was triggered as Bayer group has completed the $63 billion mega-deal to acquire Monsanto to create the world's biggest agro-chemical and seed company.</p>.<p class="bodytext">The deal resulted in Bayer group indirectly acquiring 72.14% stake in Monsanto India Ltd.</p>.<p class="bodytext">Bayer group has fixed the open offer price at Rs 2,926.87 per share and the maximum size of the open offer will be Rs 1,313.67 crore, Monsanto India said in the filing to the BSE.</p>.<p class="bodytext">The open offer will commence on July 27. On June 7, Bayer group closed the acquisition of Monsanto in a multi-billion dollar deal, which was announced in September 2016, after it got all necessary regulatory approvals from various countries including the US and India.</p>.<p class="bodytext">Bayer group is present in India since 1896 and it has two divisions -- crop science and pharmaceutical. The group has one listed entity in India -- Bayer CropScience Ltd that posted a revenue from operation of nearly Rs 3,000 crore last fiscal.</p>.<p class="bodytext">Bayer India had an annual revenue of 600 million euros (about Rs 4,700 crore) in 2017, Richard van der Merwe, the senior Bayer representative, South Asia, had said in January this year.</p>.<p class="bodytext">Monsanto is selling genetically modified (GM) cotton seeds in India for more than a decade. With this deal, Monsanto would add seed business to Bayer's already significant crop science and pharmaceutical business in India. </p>