- $4 proposed an acquisition of $4, but the US Justice Department was concerned the deal could have violated anti-trust laws.
- On Monday, $4 that the Justice Department approved the acquisition after some negotiation.
- Monsanto has resumed trading, and the stock is spiking.
Shares of seed and agriculture giant $4 are shooting up more than 6% Monday, to an intraday high of $126.61.
The uptick in the stock Monday comes after the Justice Department allowed German pharmaceutical company Bayer's offer to acquire Monsanto to go ahead, $4. The deal was in question, as the Justice Department had expressed concerns that the acquisition could violate anti-trust laws. Bayer agreed to sell off other assets as part of the deal to purchase Monsanto.
Monsanto is now up 7% on the year.