Monsanto Company
2018
$66.0B
Why
Bayer acquired Monsanto to create the world's largest integrated agricultural inputs company, combining Bayer's crop protection chemistry with Monsanto's seed genetics, biotechnology traits, and digital agriculture platform (Climate FieldView). The deal required divestment of significant assets to BASF for regulatory approval.
Impact
The acquisition made Bayer the global leader in agricultural seeds and crop protection but immediately triggered the Roundup litigation cascade. The Monsanto brand was discontinued. The deal loaded Bayer's balance sheet with debt and has destroyed over 60% of shareholder value. Total litigation costs now exceed $17 billion.
Outcome
The acquisition is widely regarded as the worst corporate deal in German history. Bayer's market capitalization of $38.7 billion is below the $66 billion purchase price. The company has cut over 12,000 jobs, slashed dividends, and is executing a comprehensive turnaround under CEO Bill Anderson.