Monsanto rejects Bayer’s $62bn offer

According to Monsanto Chief Executive, stated that the company’s proposal significantly undervalued the company and did not adequately address or provide reassurance for some of the potential financing and regulatory execution risks related to the acquisition.

Source: Bloomberg

Bayer makes $62bn cash offer for Monsanto

German drugs and crop chemicals company Bayer AG made a $62bn cash offer to acquire U.S. seeds company Monsanto, in a bid to grab the top spot in a fast-consolidating farm supplies industry. Monsanto said it would review the proposal.

The unsolicited proposal would be the largest all-cash takeover globally, ahead of InBev’s $60.4 billion offer for Anheuser-Busch in June 2008.

The cash offer made was $122 per share, a 37% premium to Monsanto’s stock price before rumors of a bid surfaced.

Monsanto, which said last week, it had received an approach from Bayer but gave no details, and declined to comment.


Source: Reuters

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