Werner Baumann (left), CEO of Bayer AG, and Hugh Grant, chairman and CEO of Monsanto


German chemicals and pharma company Bayer agreed in September to purchase US cotton seed producer Monsanto for $66 billion. The $128 per share deal has long been expected by those in the industry, and according to Bloomberg, the merger will see the new company have control of around 35% of the world’s seed and agrochemicals market.

The deal, which will be subject to regulatory hurdles in both Germany and the US as well as being opposed by a number of groups and MEPs, is expected by the companies to be approved by the end of 2017.