BASF SE Signs Agreement with Bayer
BASF India up 3.5% after BASF SE signs agreement with Bayer
BASF SE, Germany signs agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses.
BASF India is engaged in providing chemicals, performance products, and crop protection products.
BASF India’s parent Company, BASF SE, Germany that it has signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses. These are being divested by Bayer in the context of its planned acquisition of Monsanto.
The cash purchase price by BASF SE is EUR 5.9 billion. The transaction is subject to the closing of Bayer’s acquisition of Monsanto and approval by relevant authorities, which is expected to close in the first quarter of 2018.
BASF India Ltd is currently trading at Rs 1733.5, up by Rs 43.35 or 2.56% from its previous closing of Rs 1690.15 on the BSE. The stock is currently trading above its 100 DMA.
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