(The following statement was released by the rating agency)
LONDON, September 15 (Fitch) Bayer's plan to partially finance
the acquisition
of Monsanto with a USD19bn equity and hybrid debt issuance
indicates it has
structured the deal to protect its balance sheet as much as
possible and manage
the financial risks, Fitch Ratings says. The deal is valued at
USD66bn, or
USD4bn more than when we placed Bayer on Rating Watch Negative
in May; however,
this increase is covered by the higher equity
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