Global Markets: Bayer dropping Monsanto after deal closes

By Commodity News Service Canada
WINNIPEG, June 1, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Bayer AG is days away from closing its purchase of
Monsanto Co. this week. Once the final regulatory approvals
are in, Bayer plans to close the deal Thursday while
raising as much as 26 billion euros in shares and bonds.
Bayer will retain its name and drop Monsanto’s. The
purchase is part of a multiyear transformation, as Bayer
sold off its legacy plastics business and remade itself

into a life-science company with half its sales from health
and half from agriculture.
Quebec’s largest marijuana producer, Hydropothecary
Corp., is exploring acquisitions to broaden its offerings
or distribution footprint. The company is interested in
rivals with provincial supply contracts as well as
companies with technology to create new pot products.
Hydropothecary, which met investors in New York last month,
wants to catch up with the market capitalization of
competitors such as Canopy Growth Corp.
Facebook Inc. is disputing a New York Times report
about how it shares data with device makers from Apple and
Amazon to Samsung. They’re privy to Facebook users’
information but it’s nothing like the access that led to
the Cambridge Analytica controversy, Facebook said. The New
York Times reported Facebook had struck deals with device
manufacturers that allowed them full access to information
on users and their friends. But Facebook said those pacts
were intended to help device markers create their own
versions of Facebook apps.

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