Last September, Monsanto accepted an offer from Bayer to $57 billion to its shareholders and assume $9 billion in debt. Monsanto was founded in St. Louis in 1901 by John Francis Queeny.

FRANKFURT, Germany — U.S. seedmaker Monsanto agreed to a $66 billion buyout deal with Germany's Bayer to create a global agricultural and chemical giant.

Bayer’s woes stem from its 2018 purchase of Monsanto, the maker of Roundup, for $63 billion in cash. Since the deal was announced in 2016, Bayer’s shares have plunged more than 60 percent.

FILE – This Aug. 31, 2015 file photo shows the Monsanto logo seen at the Farm Progress Show in Decatur, Ill. German drug and chemicals company Bayer AG says it has made a $62 billion offer to ...