Bayer to retire Monsanto name in takeover

Germany’s Bayer (BAYGn.DE) will wrap up the $62.5 billion takeover of Monsanto (MON.N) on Thursday this week and also retire the name of the U.S. seeds maker, it said on Monday.

The German drugmaker had received all required approvals from regulatory authorities, it said in a statement.

“Bayer will remain the company name. Monsanto will no longer be a company name. The acquired products will retain their brand names and become part of the Bayer portfolio,” it said.

Bayer launched a 6 billion euro ($7 billion) rights issue on Sunday, a cornerstone of the financing package for the deal.

Bayer is a German multinational, pharmaceutical and life sciences company. It is headquartered in Leverkusen, where its illuminated sign is a landmark. Bayer’s primary areas of business include human and veterinary pharmaceuticals; consumer healthcare products; agricultural chemicals and biotechnology products; and high value polymers. The company is a component of the Euro Stoxx 50 stock market index. The company’s motto is “science for a better life.”

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