Two years, millions of pages of paperwork and $9bn-worth of divestments. That is what it took to get Bayer’s $66bn takeover of Monsanto, a US-based seeds and pesticides business, across the finish line. In the meantime, Bayer’s share price slid by 25% to 40%, depending on whether it is counted from the initial announcement or from when rumours of the takeover started to swirl.
Nevertheless, Werner Baumann, the German pharmaceuticals giant’s CEO, has said he has “absolutely no regrets” regarding the deal. At the same time, court battles regarding the potential health risks of Monsanto’s flagship Roundup pesticide are mounting and Bayer’s 2018 earnings are set to come in lower than forecast. Investors could be forgiven for asking themselves: was the two-year-long battle worth it?
