German science and chemical company, Bayer, recently announced its intention to complete the acquisition of Monsanto this week.

The move will allow the company to become the only shareholder of Monsanto and in turn will double the size of their agriculture business.

It is expected that the transition will take two months to complete.

Werner Baumann, chair of the board of management for Bayer AG, said the move will “create a leading innovation engine in agriculture, positioning us to better serve our customers and unlock the long-term growth potential in the sector”.