Monsanto agrees to $66 billion deal with Bayer

U.S. seed maker Monsanto agreed to a $66 billion buyout deal with Germany's Bayer to create a global agricultural and chemical giant, according to The Advocate and wire reports. 

Monsanto operates a plant in St. Charles Parish, Louisiana, that employs about 645 people.  In April, the company announced plans to invest $975 million at the plant over the next three years to support the launch of its Roundup Ready Xtend Crop System.

Bayer said the transaction brings together two different but complementary companies. Bayer makes a wide range of crop protection chemicals that kill weeds, bugs and fungus, while Monsanto is known for its seeds business and the weedkiller Glyphosate.

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