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Bayer Seeds Bought, Monsanto Integration Begins

BASF says it has closed the buyout of Bayer's global vegetable seed business for an all-cash purchase price of $8.7 billion.

The purchased business has 24 crops, 2,600 varieties, 100 breeding programs, and research and development operations.

BASF released a statement saying it adds a well-recognized brand to its portfolio.

Closing on the deal allows Bayer to begin integrating Monsanto.

Bayer took ownership of Monsanto in June, but the companies had to stay separate until conditions were met. The $63 billion deal hinged on Bayer divesting assets for regulatory approval.