If the deal for Bayer AG to purchase Monsanto goes through, boss Hugh Grant could land more than $70 million. Initially, the offer to purchase came in at $62 billion but it was seen as “incomplete and financially inadequate”. Clearly. Buying the power to wield that much death and destruction should be worth a bit more.
And just so we are clear, a Reuters analysis of Monsanto’s filings showed that the offer of $122-per-share would allow CEO and Chairman Grant to walk away with a total package of more than $123 million after the takeover– including the sale of shares and the exercise of options he already owned. However, he has incentive to hold out for the highest possible sale price and at a $130-per-share bid, for example, Reuters found that that would increase his holdings by another $12 million.
From the Reuters article:
“But $73.5 million of that represents gains the 58-year-old Scot could make as a result of the Bayer courtship, largely thanks to increases in the value of his stock options.
The gains also reflect the rise in the value of his shareholdings and accelerated payout of bonuses that would occur if there is a takeover, as well as a $14.5 million “golden parachute” severance payment he would receive if he loses his job as a result.”
There is still no certainty that the continuing negotiations will result in a deal. But Grant, who is eligible for retirement, said his company firmly endorses the (perceived) benefits an “integrated strategy” like this could provide to farmers and society as a whole. Then of course there are many of us who see this potential sale as trouble with a capital T. And in all caps. And bold.
There is also the possibility that even if a deal happens, Grant won’t be ousted, although in most takeovers the CEOs of the purchased companies tend to exit. For instance, the deal between Dow Chemical and Dupont will see both CEOs depart.
The sale is important for Monsanto, especially since they have been wrestling with low crop prices and spending cutbacks by U.S. farmers, both of which have hit their profits. It also hasn’t helped them that the World Health Organization announced that Roundup (glyphosate) is a class 2A carcinogen.
But Grant isn’t the other one who would clean up from a takeover. According to Reuters:
- Brett Begemann, president and chief operating officer, could walk away with a total of $36.5 million for his shares and in gains on his options, accelerated bonuses and severance, should a deal be done at $122-a-share and his job terminated.
- The other three directors whose total pay is disclosed in filings – Chief Financial Officer Pierre Courduroux, Chief Technology Officer Robert Fraley and General Counsel, David Snively – could walk away with a total of over $56 million in shares, bonuses and severance if a deal goes through.
Now is the time to continue choosing food free of chemicals and GMOs. Now is the time to continue to “March Against Monsanto”. Now is the time to raise our voices. Here is just more proof that the biggest corporations in the world don’t care about us- the consumer- because they don’t have to. We need to hit them where it hurts, their bottom line- MONEY- and boycott their products. If we all did our part, we could make huge waves…for us, our planet and future generations.
Erin Elizabeth is a long time activist with a passion for the healing arts, working in that arena for a quarter century. Her site HealthNutNews.com is barely 4 years old, but cracked the top 20 Natural Health sites worldwide. She is an author, public speaker, and has recently done some TV and film programs for some of her original work which have attracted international media coverage. Erin was the recipient for the Doctors Who Rock "Truth in Journalism award for 2017. You can get Erin’s free e-book here and also watch a short documentary on how she overcame vaccine injuries, Lyme disease, significant weight gain, and more. Follow Erin on Facebook, Twitter, and Instagram.
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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment.