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Germany’s Bayer makes $62 billion offer for Monsanto

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(AP) German drug and chemicals company Bayer AG announced Monday that it has made a $ 62 billion offer to buy U.S.-based crops and seeds specialist Monsanto.

The proposed combination would create a giant seed and farm chemical company with a strong presence in the U.S., Europe and Asia.

Bayer said the all-cash offer values shares of Monsanto at $ 122 each. That compares with their closing price Friday of $ 101.52 and is 37 percent higher than their closing price of $ 89.03 on May 9, the day before Bayer made a written proposal to Monsanto.

Bayer had said on Thursday that its executives met recently with their Monsanto counterparts “to privately discuss a negotiated acquisition” of the specialist in genetically modified crop seeds, which is headquartered in St. Louis, Missouri. Monsanto said then that it was reviewing Bayer’s proposal.

Bayer said it plans to finance the acquisition with a combination of debt and equity. It said that “is prepared to proceed immediately to due diligence and negotiations and to quickly agree to a transaction.”

The acquisition “would be a compelling opportunity to create a global agriculture leader, while reinforcing Bayer as a life science company with a deepened position in a long-term growth industry,” the German company said in a statement.

Bay News 9 – business

May 23, 2016 |

MCAT to offer service to Pinellas County starting April 1

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Starting Friday, April 1, Manatee County Area Transit (MCAT) will begin limited express service between Bradenton and St. Petersburg through its MCAT Connexion.  

Officials say the first bus daily will depart from the DeSoto Station starting at 9:00 a.m., and should arrive at the Bay Pines Veterans Administration Hospital/Medical Center by 10:15 a.m.  A return trip departs at 10:40am.

A second run to St. Pete starts at 2:00 p.m. and returns at 3:40 p.m. 

William Steele, Transit Manager for MCAT, worked with the Pinellas Suncoast Transit Authority (PSTA) to create the new Skyway Connexion Limited Stop Express.  He says his twenty years working for PTSA helped to build this collaboration. 

"They’re open to the inter-county service because it serves a market that they’d like to fulfill, as well," said Steele.

Steele goes on to say the new service across the Howard Frankland Bridge opens job opportunities, shopping, and services to MCAT Customers they could not reach previously.

For additional information on the new Skyway Connexion Limited Stop Express Service, visit the MCAT Website.

Bay News 9 – local-news

March 30, 2016 |
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