Bayer increases bid for Monsanto
Deal could be worth more than $65 billion
By Diego Flammini
Assistant Editor, North American Content
Negotiations between Bayer and Monsanto appear to be moving forward.
Both companies acknowledged Bayer upped its bid for Monsanto.
“Bayer confirms advanced negotiations with Monsanto concerning a proposed transaction,” the company said in a release. “While key terms and conditions have not yet been agreed, Bayer would be prepared to provide a transaction consideration of USD 127.50 per Monsanto share only in connection with a negotiated transaction. There can be no assurance that the parties will enter into an agreement.”
Monsanto called the negotiations “constructive.”
Should the deal go through, it could be worth more than $65 billion, up from the original offer of $63.5 billion.
The acquisition would make Bayer the world’s largest producer of seeds and pesticides.
Bayer made a previous attempt to purchase Monsanto in July, but the offer was rejected.
At the time, Monsanto executives said the deal was “financially inadequate and insufficient.”