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Monsanto sued over conflicts of interest in Bayer merger

Monsanto Co. was sued on behalf of shareholders over claims its chief executive and board members stand to improperly profit from a planned acquisition by Bayer AG.

An investor alleges Monsanto Chief Executive Officer Hugh Grant stands to collect $18 million in cash and benefits, and that directors would similarly benefit from the merger. Grant and board members suffer conflicts of interest and have withheld information from investors in a bid to pursue the deal, according to the complaint.

The investor who filed the lawsuit in Missouri state court on Nov. 16 seeks to represent others in a class action.

Source: Bloomberg
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