NCLT okays merger of Monsanto India with Bayer CropScience
The National Company Law Tribunal (NCLT) on Friday approved the merger of biotech company Monsanto India Ltd with Bayer CropScience. In June 2018, German chemical and pharma major Bayer AG had announced completion of the USD 63 billion mega-deal to acquire US-based biotech major Monsanto to create the world's biggest agro-chemical and seed company.
Bayer had in May received approval from the fair trade regulator Competition Commission of India (CCI), paving way for the completion of the global merger.
Bayer CropScience took shareholders' approval for the merger during the first quarter of 2019-20 and was waiting the final approval of the NCLT to make the global merger effective in India.