Bayer sets up committee to evaluate integration of Monsanto India

Bayer CropScience Friday said a committee has been set up to evaluate the proposal relating to the integration of the Monsanto India into itself.

In June this year, Bayer completed the USD 63 billion mega-deal to acquire US-based Monsanto to create the world's biggest agrochemical and seed company. The acquisition of Monsanto has been completed globally but it is still in process in India.

In a regulatory filing, the Bayer CropScience said the 'Business Restructuring Sub Committee' will evaluate the proposal relating to the integration of the two listed entities under the overall supervision of the audit committee.

The business committee will appoint consultant(s)/intermediaries and obtain other related statements to evaluate the said proposal, it said

The company's shares fell 3.17 percent to settle at Rs 4,215 apiece on the BSE.