September 2016: Bayer Buys Monsanto in Cash Deal
Here's a slideshow depicting the major world news events of September 2016.
1. Death of Uzbekistan's President 2. Mother Teresa Gains Sainthood 3. Hong Kong Elections 4. Syrian Government Drops Chlorine Bomb in Aleppo 5. Gabon Reelects President 6. North Korea Tests Nuclear Warheads 7. U.S. and Russia: Syrian Cease-Fire 8. Bayer Buys Monsanto 9. Parliamentary Election Reinforces Putin 10. Syrian Cease-Fire Over 11. Puerto Rico Loses Power 12. Typhoon Megi Hits Asia 13. Israeli Leader Shimon Peres Dies 14. OPEC Agrees to Oil Cuts
- Bayer Buys Monsanto in Cash Deal
- On September 14, 2016, it is announced that German pharmaceutical and chemical company Bayer AG is buying U.S. agricultural company Monsanto Co. in a $66 billion cash buyout. The deal brings more unease into this market, as many companies have been merging this year, lowering competition. Senator Bernie Sanders voices his concern, "These mergers boost the profits of huge corporations and leave Americans paying even higher prices." Farmers in Iowa are also concerned about the merger because seed and chemical costs are rising while the value of grain continues to fall.
- Photo source: AP Photo/Markus Schreiber