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Bayer Secures Monsanto Takeover With $56 Billion Bid
By LESLIE PICKER
Bayer
will acquire Monsanto for $128 a share in cash in a deal that is among
the largest German corporate takeovers of an American company.
DealBook Highlights
Commerce Dept. to share retail sales figures. The Commerce Department will report retail sales data on Thursday,
as stores around the country continue to push back-to-school sales and
promotions for the fall. Excluding autos, retail sales probably rose
two-tenths of a percent in August, according to data from the research
firm IHS Global Insight. Retail sales were flat in July. – Rachel Abrams
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Bank of England expected to retain interest rates. The Bank of England is widely expected to keep interest rates steady when it announces its latest decision on rates on Thursday,
but it may signal a need for a further cut in November when it provides
an update on its outlook for inflation. In August, the central bank cut
its benchmark interest rate to 0.25 percent, the lowest level in its
322-year history, and expanded other measures to bolster Britain’s
economy over fears that the country’s decision to leave the European
Union could weigh on growth. The rate had remained steady at 0.5 percent
since March 2009.
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Better-than-expected economic data in the last week or so
bolstered the pound against the dollar and has raised questions about
whether the Bank of England was too dire in its warnings about the
potential impact on the British economy before the referendum in June on
whether to leave the European Union. At a committee hearing in
Parliament last week, Mark Carney, the Bank of England governor, said he
was “comfortable” with the analysis taken by the central bank ahead of
the vote and the actions it has taken since then. – Chad Bray
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