LONDON (Reuters) - Bayer investor Royal London Asset Management said on Wednesday it backed the agreed deal for U.S. rival Monsanto, calling it “a great deal for Bayer shareholders”.
At $66 billion, the largest-ever all-cash deal was finally agreed earlier in the day after months of discussions.
Senior Fund Manager Andrea Williams said RLAM was happy the deal had been agreed below market expectations, but said with Monsanto shares trading below the offer price, there was a risk the deal would not complete.
“The deal will face a number of hurdles, principally for U.S. national security issues such as production close to military bases, and from farmers who will see their choice of products limited further,” she said in emailed comments.
Reporting by Simon Jessop, editing by Huw Jones