Allen & Overy (A&O), Sullivan & Cromwell and Wachtell Lipton Rosen & Katz have won mandates on the latest billion-dollar merger between Bayer and Monsanto.
Chemicals company Bayer has made a proposal to acquire agricultural giant Monsanto for $62bn, calling upon Sullivan & Cromwell for M&A advice.
The US firm fielded a US and UK team led by corporate partners Matt Hurd and Eric Krautheimer, based in New York and Los Angeles respectively. They were supported by New York antitrust partner Steven Holley and London partner Juan Rodriguez.
Bayer also turned to A&O for financing advice on the proposed acquisition, with partner Neil George Weiand leading in Frankfurt. German partner Thomas Neubaum also assisted on the financing side, along with London partners Nicholas Clark and George Link.
Corporate matters were meanwhile handled by Düsseldorf partner Hans Diekmann and London partner Stephen Mathews, while German partners Oliver Seiler and Marcus Helios provided capital markets and tax advice respectively.
The target Monsanto confirmed it is being advised by US firm Wachtell Lipton Rosen & Katz, with Morgan Stanley and Ducera Partners acting as financial advisers.
The enlarged company would be able to provide crop protection, biologics and digital farming platforms, with Monsanto also specialising in seeds and traits.
Background to the deal
In the last year, Monsanto has been both the acquirer and target. Last year, it had looked to acquire Syngenta in a deal worth over $45bn, again turning to Wachtell Lipton Rosen & Katz for support. The deal fell apart and Syngenta was snapped up China National Chemical Corporation for $43bn.
German pharmaceutical giant Bayer counts A&O as one of its main advisers, appointing it on to its Emea and US panel in 2013. Sullivan & Cromwell also made it onto the list, winning a role on Bayer’s acquisition of Merck’s consumer care business in 2014.