Monsanto Shareholders Approve Takeover

Weather-Predicting Tech Behind the $62 Billion Monsanto Co. Bid
Monsanto gives a go-ahead to the deal. Picture Source: Bloomberg

The largest acquisition in German corporate history has cleared a key milestone in the United States.

The shareholders of Monsanto, the world’s largest seed maker, approved a $66-billion (€62 billion) takeover by the German chemicals giant Bayer at a special meeting in St. Louis on Tuesday.

According to a Monsanto press release, 99 percent of the votes cast, which represent 75 percent of all outstanding shares, were in favor of the acquisition.

The deal is still subject to regulatory approval on both sides of the Atlantic. Monsanto expects to close the deal by the end of 2017.

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