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BAYRY

Bayer

$132.67

-0.58 (-0.44%)

07:06
09/14/17
09/14
07:06
09/14/17
07:06

Bayer, Ginkgo Bioworks confirm new company focused on plant microbiome

Bayer and Ginkgo Bioworks will create a new company focused on the plant microbiome. Improving the microbes' ability to make nitrogen fertilizer available for plants offers a major potential benefit to sustainable agriculture. The deal provides a Series A investment of $100M by its parent companies and Viking Global Investors LP. The new company will be co-located with Ginkgo in Boston's thriving biotechnology community and in West Sacramento, California, home of Bayer's R&D activities around plant biologics. The new company will focus on technologies to improve plant-associated microbes with a major focus on nitrogen fixation. In addition to the the initial $100M Series A investment by Bayer, Ginkgo, and Viking Global Investors LP, Ginkgo will provide exclusive access to its technology, laboratory and office spaces, and will build a new facility exclusively for the new company. Bayer will also provide exclusive access to proprietary microbial strains and all necessary development know-how. Dr. Mike Miille will be named interim CEO of the new company. He is the former CEO of AgraQuest and currently Vice President Strategy and Business Management Biologics at Crop Science, a division of Bayer. The Board of Directors of the new company will be composed of two representatives from Ginkgo Bioworks - Dr. Jason Kelly and Dr. Reshma Shetty - and two representatives from Bayer - Dr. Axel Bouchon and Dr. Juergen Eckhardt. The new company will operate out of Ginkgo's Boston Seaport facility. Closing of the transaction is subject to customary conditions and expected to occur in the fall of 2017. Hiring for the new company is currently underway.

BAYRY Bayer
$132.67

-0.58 (-0.44%)

07/05/17
SBSH
07/05/17
DOWNGRADE
SBSH
Neutral
GlaxoSmithKline downgraded to Neutral from Buy at Citi
Citi analyst Andrew Baum downgraded GlaxoSmithKline (GSK) to Neutral and lowered his price target for the shares to GBP 17 from GBP 18. The analyst believes the market is underappreciating the slowing of the company's HIV market growth. He prefers shares of AstraZeneca (AZN), Roche (RHHBY) and Bayer (BAYRY) for exposure to Europe.
07/12/17
JEFF
07/12/17
DOWNGRADE
Target $128
JEFF
Hold
Monsanto downgraded to Hold from Buy at Jefferies
Jefferies analyst Laurence Alexander downgraded Monsanto (MON) to Hold saying Bayer's (BAYRY) all-cash offer appears on track for year-end. The analyst views the deal failing as a "low-probability scenario" and keeps a $128 price target for the shares.
08/18/17
UBSW
08/18/17
DOWNGRADE
Target $128
UBSW
Neutral
Monsanto downgraded to Neutral from Buy at UBS
UBS analyst John Roberts downgraded Monsanto (MON) to Neutral saying the shares are now less than 10% away from the accepted Bayer (BAYRY) offer of $128. The analyst calculates that the market is currently pricing in a 70% chance of the deal going through. His view that the deal could be approved remains unchanged. Approvals of peer deals suggest antitrust approval likely for Monsanto, Roberts tells investors in a research note. The analyst keeps a $128 price target for Monsanto shares.
09/05/17
BERN
09/05/17
NO CHANGE
BERN
Bernstein still sees 'very high' probability of Bayer, Monsanto deal approval
Bernstein analyst Jeremy Redenius notes that the European Commission has opened an in-depth review of the Bayer (BAYRY)/Monsanto (MON) deal due to concerns of reduced competition in pesticides, seeds, and traits. The analyst believes this is not surprising, as the in-depth review is the norm for deals of this size. Comparing the EC's initial concerns with those of the Dow/DuPont (DWDP) deal, he still sees a "very high" probability of deal approval.

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C

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NGD

New Gold

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PYPL

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CE

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NRZ

New Residential

$17.63

-0.11 (-0.62%)

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EXEL

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