September 29, 2016
Late 2017 is the time frame expected for completion of Bayer’s acquisition of Monsanto, says Lee Rivenbark, the head of Seeds North America for Bayer.
Rivenbark, speaking to a large crowd at the annual Bayer FiberMax field day in Idalou, Texas, was careful to characterize the proposed purchase as a “potential acquisition. We are a long way from completion. We are not done.”
He said the merger will benefit agriculture. “We believe it is good for our customers.”
With agriculture and the industries that support them as highly regulated as they have become, Rivenbark says the costs of research and development can be spread over a larger product base.
“The cost of regulation is high,” he added. “And we are no longer just a crop protection company or a seeds and traits company. We are a company of integrated solutions—products, expertise and management.”
Rivenbark says Bayer is committed to investing 10 percent of all sales into research and development. “With combined sales (following the acquisition) we can do even more. We are not a generic company, and we do not want to be a generic company.”
He said for the near future, Bayer will continue to invest and operate as Bayer. “We do not know what the future holds, so we will be Bayer for a long time yet.”
He said anyone interested in staying abreast of the acquisition process may log onto www.advancingtogether.com.
About the Author(s)
You May Also Like
Current Conditions for
Enter a zip code to see the weather conditions for a different location.
Soybean processor brings economic power to North DakotaDec 05, 2023
Western govs: Don’t change grazing policiesDec 03, 2023
What can be learned from 2023’s weather?Dec 05, 2023
All eyes back on South AmericaJan 18, 2023
Don’t expect fireworks in Friday’s USDA reportDec 06, 2023
David Kerns receives TPPA's Norman Borlaug awardDec 04, 2023
USDA exports – China buys wheat, soybeans, December 6, 2023Jan 19, 2023