Late 2017 is the time frame expected for completion of Bayer’s acquisition of Monsanto, says Lee Rivenbark, the head of Seeds North America for Bayer.
Rivenbark, speaking to a large crowd at the annual Bayer FiberMax field day in Idalou, Texas, was careful to characterize the proposed purchase as a “potential acquisition. We are a long way from completion. We are not done.”
He said the merger will benefit agriculture. “We believe it is good for our customers.”
With agriculture and the industries that support them as highly regulated as they have become, Rivenbark says the costs of research and development can be spread over a larger product base.
“The cost of regulation is high,” he added. “And we are no longer just a crop protection company or a seeds and traits company. We are a company of integrated solutions—products, expertise and management.”
Rivenbark says Bayer is committed to investing 10 percent of all sales into research and development. “With combined sales (following the acquisition) we can do even more. We are not a generic company, and we do not want to be a generic company.”
He said for the near future, Bayer will continue to invest and operate as Bayer. “We do not know what the future holds, so we will be Bayer for a long time yet.”
He said anyone interested in staying abreast of the acquisition process may log onto www.advancingtogether.com.