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Bayer AG, Monsanto sign merger agreement

St. Louis-based Monsanto and Leverkusen, Germany-based Bayer AG have signed an agreement to merge the agricultural sectors of each business.

Bayer officials claim farmers will benefit greatly from the affiliation, citing the possibilities of combined research on the agricultural business as a whole.

The combined company's North American headquarters will remain in St. Louis.

German and U.S. antitrust regulators may still reject the merger agreement to maintain competition in the market.

Bayer AG acquired Monsanto for a total of $66 billion, roughly $128 per share. Bayer officials had previously offered to buy Monsanto twice before and was rejected.

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