Author: Vitaliy Dadalyan

28 Feb by Vitaliy Dadalyan Tags:

Bayer goes through ‘ups and downs’ as Monsanto deal drags on

Bayer (BAYGn.DE) on Wednesday said it would need more time to wrap up its takeover of seeds company Monsanto (MON.N) after the drugmaker reported lower than expected fourth-quarter earnings which were hit by pesticide pricing pressures in Brazil. The Monsanto deal will now close before the end of June, Bayer said, compared with previous ambitions to finish it early in 2018, but negotiations with antitrust authorities in jurisdictions such as Europe, Russia and the United States are dragging on. "Operationally, 2017 was a year of ups and downs," Chief Executive Werner Baumann said after the company reported a 1.3 percent fall in fourth-quarter adjusted core earnings, slightly worse than expected by analysts, and flagged stagnant earnings this year.

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