Bayer details Aventis CropScience purchase

Bayer (FSE:BAYG) said it will pay EUR7.25 billion ($6.6 billion) for agrochemical company Aventis CropScience, which is 76% and 24% owned by Aventis (AVE) and Schering (FSE:SCH; SHR), respectively. The deal includes BAYG taking on EUR1.9 billion a debt. Last month, BAYG said that after it completes the acquisition of Aventis CropScience, it will form a separate unit of the two companies' crop protection activities (see BioCentury Extra, Thursday Sept. 13, 2001). ...