Monsanto received the offer May 10
By Diego Flammini
Assistant Editor, North American Content
Bayer is trying to acquire Monsanto with a $62 billion offer.
According to Bayer, the offer was sent on May 10, and both companies acknowledged the proposal on May 18.
In a video discussing the possible merger, Bayer CEO Werner Baumann says the combination of the two companies simply makes sense.
“Monsanto is a perfect match to our agriculture business,” he said. “We at Bayer have a leading position in crop protection and Monsanto is extremely strong in seeds and traits. So jointly, we would be an innovation powerhouse to address (a) farmer’s future needs.”
In a May 23 press release, Bayer says the deal would “benefit from Monsanto’s leadership in Seeds & Traits and Bayer’s broad Crop Protection product line across a comprehensive range of indications and crops.”
Liam Condon, a member of the Board of Management of Bayer AG and head of the Crop Science Division, said farmers clearly need more innovative solutions to advance the future of agriculture.
Monsanto has remained silent since May 18, but in a May 10 letter from Baumann to Monsanto CEO Hugh Grant, Baumann says “it is important that both of our companies commence negotiations immediately” to keep any disruptions to a minimum.