MUSCATINE, Iowa (KWQC) – German pharmaceuticals giant Bayer has completed its takeover of GMO company Monsanto.
Shareholders have reportedly accepted a deal worth $66 billion, making this the largest transaction ever involving a German buyer.
Bayer, known for healthcare products along with farm products, announced its intention to buy Monsanto last May.
Monsanto, known for genetically modified seeds for crops such as corn and soybeans, has facilities around the world and across the U.S., including operations in the Quad Cities Area in Monmouth, Illinois and Muscatine, Iowa.
Monsanto is one of the largest employers in Muscatine, employing 381 people, according to the Greater Muscatine Chamber of Commerce.
The takeover is expected to be closely scrutinized by antitrust regulators and, if given final approval, is expected to close by the end of 2017.