New Owners Will Lose Monsanto Name

Monsanto, a name many critics equate with genetically modified crops and the heavy use of herbicides, will be rebranded once German pharma leader Bayer takes the helm, NPR reports. Bayer announced in 2016 it would acquire the agri-chemical business and this week said, following the takeover, "Monsanto will no longer be a company name." Per the AP, Bayer said Monday that it plans to complete its purchase of US seed and weed-killer maker after receiving all the required approvals from regulators. Along with the politically charged name, Bayer will be shedding much of Monsanto's agriculture arm. Regulators directed Bayer to divest assets such as vegetable oils, seeds and seed treatments to ensure fair competition and prevent price spikes after the massive agriculture business deal goes through. The assets will be sold to BASF, a German chemical company. (More Bayer stories.)