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Fly News Breaks for April 16, 2018
BAYRY, MON
Apr 16, 2018 | 08:03 EDT
Argus analyst Bill Selesky issued a double-notch downgrade on Monsanto (MON) to Sell from Buy after the U.S. Justice Department approved its acquisition by Bayer (BAYRY) last week. The analyst says the deal is expected to be further approved by Canadian and Mexican regulators and completed by the end of Q2. As part of the approval, the analyst points to the companies' pledge to sell additional assets even as Monsanto stock trades just below Bayer's acquisition price of $128 per share.
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