Shares of Bayer CropScience ended with nearly 1 per cent gain today after Bayer AG announced acquisition of global biotechnology major Monsanto for USD 66 billion in the largest all-cash deal ever to create the world's biggest seed and pesticide firm.
The stock settled 0.67 per cent higher at Rs 4,138.40 on BSE. Intra-day, it jumped 6.54 per cent to Rs 4,380 -- its 52-week high.
Shares of Monsanto India too had surged 6 per cent to Rs 2,728.90 during the day, but later settled 1.72 per cent lower at Rs 2,528 on emergence of profit-booking.
Both Bayer and Monsanto have presence in India, with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade.
The deal, which is reported to be the largest all-cash transaction on record, marks a major consolidation in global seed business. Recently, Monsanto's rival Syngenta was acquired by China's state-owned firm ChemChina.
After negotiating for nearly four months, Bayer and Monsanto yesterday announced that "they signed a definitive merger agreement under which Bayer will acquire Monsanto for USD 128 per share in an all-cash transaction".
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