Bayer cuts value of Monsanto deal

Bayer AG has reduced the value of its pending takeover of Monsanto by $2.5 billion and may cut the size of its planned rights issue to fund the deal.

Johannes Dietsch, Bayer’s finance chief, said Thursday that the Monsanto deal is now valued at $63.5 billion, down from the original $66 billion, because Monsanto has lowered its financial liabilities, Reuters reports.

During a conference call Thursday, Bayer Chief Executive Werner Baumann also said the company plans to use proceeds from the planned…

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