Jones Day Aids Bayer CropScience In $425M AgraQuest Buy

Law360, New York (July 5, 2012, 1:14 PM ET) -- Bayer AG unit Bayer CropScience will pay at least $425 million for California-based pest management biotechnology firm AgraQuest Inc., in an effort to boost production of environmentally friendly pesticides and strengthen its burgeoning fruits and vegetables business, it announced Wednesday.

The purchase price, which includes AgraQuest’s production and research and development facilities, is $425 million, but could rise based on milestone payments, Bayer CropScience said.

“The growing fruits and vegetables market, which today accounts for more than 25 percent of our sales, is of strategic importance...
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