Temasek raises stake in Bayer to 4% for $4.8 bil

FRANKFURT (Apr 17): German drugmaker Bayer is raising 3 billion euros ($4.8 billion) towards its planned US$62.5 billion ($81.9 billion) takeover of seed maker Monsanto by selling a 3.6% stake to Singapore's state investment company Temasek.

Bayer said it had struck a deal with Temasek under which it would issue shares with an entitlement to dividends as of January 1, 2017 at an at-market price.

Together with its existing holding in Bayer, Temasek would own about 4% in Bayer after the transaction.

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