Monsanto says CEO Hugh Grant will step down after Bayer deal closes

(Reuters) - Monsanto Co said on Monday Chief Executive Officer Hugh Grant will step down after the seeds company completes a deal to be acquired by Bayer AG.

German conglomerate Bayer is preparing to close its $62.5 billion takeover of Monsanto this quarter in a deal that will give it control of more than 25 percent of the world’s seed and pesticides market.

(Reporting by Anirban Paul in Bengaluru; Editing by Sai Sachin Ravikumar)

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