[4 June/Bloomberg]

Bayer AG was close to the closure of its purchase of Monsanto Co this week. Bayer will retain its name and drop Monsanto’s. The purchase will be part of a multiyear transformation as Bayer attempts to transform its business. Chief Executive Officer, Werner Baumann, said they were about to close the transaction and didn’t rule out any further portfolio changes. The deal would double the size of Bayer’s agriculture business. S&P downgraded Bayer two levels from its previous A- rating. To gain approval for the deal, Bayer agreed to sell assets to BASF SE.