16 Apr '18, 8pm

Singapore's Temasek hikes Bayer stake in $3.7 billion share sale

FRANKFURT (Reuters) - German drugmaker Bayer (BAYGn.DE ) is raising 3 billion euros ($3.7 billion) towards its planned $62.5 billion takeover of seed maker Monsanto (MON.N ) by selling a 3.6 percent stake to Singapore’s state investment company Temasek. A Temasek Holdings logo is seen at their office in Singapore July 8, 2014. REUTERS/Edgar Su/File Photo Bayer said it had struck a deal with Temasek [TEM.UL] under which it would issue shares with an entitlement to dividends as of January 1, 2017 at an at-market price. Together with its existing holding in Bayer, Temasek would own about 4 percent in Bayer after the transaction. “Temasek takes equity positions in leading companies globally and is a long-term investor,” Bayer Chief Executive Werner Baumann said in a statement. “This investment affirms our business strategy including the proposed acquisition of Monsanto, as wel...

Full article: https://www.reuters.com/article/us-bayer-temasek/singapor...

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