Bayer announces the end of Monsanto's brand

The German group of the pharmaceutical and agro-chemical sector Bayer announced on Monday (4) which will abolish the Monsanto brand after buying the American firm of seeds and pesticides. Bayer announced that it intends to complete the acquisition of Monsanto in June 7 by a figure close to $ $63 billion. The German group said it has received all the necessary permits from regulatory agencies. "Bayer remains the name of the company. Monsanto Company name will not be held, "said a statement issued by the German group. The marks of the products sold by Monsanto, however, will be kept. The German group has not presented any justification for deletion of the Monsanto name. The merger of the two companies was announced in September 2016, in a deal estimated at about $ $66 billion, and created the largest integrated company of pesticides and seeds in the world. Since the announcement of the acquisition of the American company, the defenders of the environment put pressure on the authorities with protests. "Let's hear it for those who criticize us and we're going to work together, but progress must not be stopped by the strengthening of ideological fronts," said Werner Baumann, President of Bayer. The agencies that regulate competition in the United States and Europe have authorized the operation, but forced the sale of important activities to German rival BASF, valued at almost $ $9 billion (7.7 billion euros). Bayer's pharmaceutical and chemical company. Monsanto is the world leader in herbicides and genetically engineered seeds and dominated, before the asset sale to Basf, the transgenic seed industry of corn, wheat and soybeans. Together, Bayer and Monsanto formram a worldwide giant with annual turnover of 23 billion euros ($ $25.8 billion) and almost 140,000 employees.