Bayer Raises Profit Outlook on Crop Protection Products, Sees Monsanto Deal Closure by Year End

Bayer AG raised its outlook for the year, citing a rebound in chemicals and crop products, as management works to sew up its $66 billion takeover of agriculture giant Monsanto Co., reports Johannes Kock on Bloomberg.com.

Earnings before special items will likely rise by a percentage in the low teens and sales will grow to a record 51 billion euros ($55.6 billion) this year, the Leverkusen, Germany-based company said in a statement on Thursday. Covestro, the chemicals unit, is now able to raise prices, and demand for crop protection products has rebounded in North America, Bayer said.

Chief Executive Officer Werner Baumann aims to close the Monsanto transaction this year, even as a cascade of industry deals sparks intense regulatory scrutiny, and said discussions with U.S. regulators are proceeding on track. Bayer may put some of its seed businesses up for sale to assuage antitrust concerns, people familiar with the matter said last month.

“We are working diligently through the questions, and also actually in Europe, where we still have to file in quarter two,” Baumann said in a Bloomberg television interview with Guy Johnson. Rivals such as China National Chemical Corp. and Syngenta AG won approval for their planned combination this month, which is “also a strong testimony to our perspective of closing by the end of the year,” he said.

Read the full story on Bloomberg.com.

Topics:

Agrichemicals

Agrichemicals

Albaugh Partners on Herbicide-Tolerant Wheat Production System

CoAxium Wheat Production System is a joint collaboration driven to deliver innovative and novel solutions for wheat producers in North America and beyond.

Agrichemicals

Syngenta Seed Treatment Insecticide Gets EPA Approval

The active ingredient in Fortenza, cyantraniliprole, is labeled to protect against above- and below-ground insects.

Agrichemicals

Syngenta Seeking Approval for New Dicamba Premix

Upon registration by the U.S. Environmental Protection Agency, the herbicide will be marketed as Tavium® plus VaporGrip® Technology (Tay-vee-um).

Flag of China
Agrichemicals

Tax Rebates to Boost China’s Formulation Exports

This issue was a long-time thorn in the eyes of China’s industry, lowering motivation for value-added processing of technical into formulations and slowing down development.

Agrichemicals

Syngenta Launches Plenaris Seed Treatment

Syngenta announced today the launch of Plenaris seed treatment fungicide for the control of downy mildew in sunflower.

Adjuvants

Specialty Chemical Companies Clariant and Huntsman to Merge

Clariant and Huntsman Corp. announced they will combine in a merger of equals through an all-stock transaction.

Agrichemicals

New EPA Approval Expands Monsanto Herbicide Portfolio

Monsanto announced today that EPA has federally approved Harness MAX Herbicide, the first herbicide in the Monsanto portfolio to provide

Agrichemicals

ChemChina Completes the First Settlement of the Tender Offers for Syngenta

China National Chemical Corp. has announced the successful completion of the First Settlement of ChemChina’s tender offers for Syngenta. Shareholders

Agrichemicals

Adama Expands Nimitz to Japan, South Korea, Taiwan

Adama has secured regulatory approval for the product in these markets for various crops, among them sweet potatoes, fruiting vegetables, melons and others.

Agrichemicals

EPA Reopens Comment Period for Pyrethroids

U.S. EPA announced it reopened the comment period regarding the preliminary ecological risk assessment for pyrethroid insecticides, and it will

Agrichemicals

Pacific Agriscience Puts Together M&A Deal Spanning Two Continents

French farmer cooperative InVivo has acquired a majority stake in CCAB Agro, a Brazil-based importer of generic crop chemicals. InVivo,

Agrichemicals

Dow AgroSciences Issues Statement on Department of Commerce Announcement

Tim Hassinger, President and CEO, Dow AgroSciences, has issued the following statement regarding a press release issued by the U.S.

Agrichemicals

UK Crop Production ‘At Risk’ if Neonicotinoids More Widely Restricted

Maintaining production of many UK crops is at risk if neonicotinoids are more widely restricted or banned completely, according to

Bayer
Agrichemicals

Bayer to Sell Liberty Crop Protection Brands to Get Monsanto Deal Passed

Bayer has agreed to sell its Liberty herbicide and LibertyLink-branded seeds businesses to win antitrust approval for its acquisition of

Agrichemicals

Syngenta Shareholders Accept ChemChina Offer

China National Chemical Corporation (ChemChina) announced the provisional interim results for ChemChina’s offer to acquire Syngenta. At the end of

Agrichemicals

Plant Impact, Ghent University Collaborate on Novel Chemical Compounds that Improve Drought Tolerance

Plant Impact plc, a leader in research and development in crop enhancement products that growers can rely on to improve

Headquarters Belchim
Agrichemicals

Belchim Crop Protection to Acquire Engage Agro USA

Belgian company Belchim Crop Protection (Londerzeel) has agreed to acquire the American agrochemical company Engage Agro USA, LLC (based in

Agrichemicals

MEPs Trying to Block Glyphosate Re-authorization Dealt Devastating Blow

Last month, 30 MEPs wrote to European Commission President Jean-Claude Juncker suggesting the European Chemical Agency’s ruling that glyphosate was

Agrichemicals

Dow-DuPont Merger Receives Conditional Approval from China’s Ministry of Commerce

DuPont and The Dow Chemical Co. have announced that China’s Ministry of Commerce (MOFCOM) has granted conditional regulatory approval of

Latest News

Agrichemicals

Albaugh Partners on Herbicide-Tolerant Wheat Production System

CoAxium Wheat Production System is a joint collaboration driven to deliver innovative and novel solutions for wheat producers in North America and beyond.

Agrichemicals

Syngenta Seed Treatment Insecticide Gets EPA Approval

The active ingredient in Fortenza, cyantraniliprole, is labeled to protect against above- and below-ground insects.

Agrichemicals

Syngenta Seeking Approval for New Dicamba Premix

Upon registration by the U.S. Environmental Protection Agency, the herbicide will be marketed as Tavium® plus VaporGrip® Technology (Tay-vee-um).

Americas

The Mixing Bowl Event Connects Technology, Food, and Ag Innovators

For the fourth consecutive year, The Mixing Bowl presents FOOD IT, under the theme “Fork to Farm.” Action-oriented entrepreneurs, industry

Asia

Acadian Plant Health Launches Biostimulants, BioSwitch Technology in India

Acadian Plant Health (APH), a division of Acadian Seaplants Ltd. (ASL), announces new partnerships and the launch of its biostimulants