Bayer increases its acquisition bid for Monsanto
Less than four months after Monsanto’s board unanimously voted to reject the USD $62 billion acquisition bid by Bayer, the parties are again negotiating.
Bayer earlier described its offer as a “mutually compelling transaction”.
Monsanto, the US-based seed producer, has confirmed that German chemical and pharmaceutical giant, Bayer, has updated its offer to USD127.50 per share in cash, totalling approximately USD $65 billion.
At this early stage, both parties emphasise that there can be no assurance an acquisition will eventuate.
Monsanto is also examining other strategic possibilities in order to determine if a transaction is in the best interests of its shareholders.
Both companies are also long-established, Bayer more than 150 years of history, and Monsanto almost 120.
Monsanto is a seed producer and one of the world’s largest producers of genetically-modified (GM) crops as well as manufacturing herbicides and other related agricultural chemicals.
It its bid is accepted, Bayer will become the world’s largest producer of farming chemicals and seeds.
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