Bayer CropScience AG and Aventis S.A., Strasbourg, France, have reached agreement on the final purchase price for Aventis CropScience, the former Aventis agricultural division that Bayer acquired in 2002. Under the agreement, EUR 327 million out of the EUR 7.25 billion originally negotiated is being refunded to Bayer. This agreement resolves one of the major questions remaining in connection with the deal.

Particularly with large transactions, adjustment of the purchase price is a common way of offsetting subsequently determined discrepancies in valuation of certain purchase price components, such as working capital and net debt. Bayer and Aventis signed the purchase agreement in October 2001. The acquisition closed in June 2002 after approvals had been received from the antitrust authorities.