Bayer raises offer to buy Monsanto
THE German pharmaceutical group Bayer is to sweeten its offer for US rival Monsanto.
Bayer said it would raise its offer for the US seed giant to US$127.50 per share from $125. That would bring the deal’s total value to almost $66 billion including debt.
Monsanto rejected Bayer’s previous offer in last month, saying it was willing to continue negotiations.
With the new offer, Bayer also said it has no intention of carrying out a hostile takeover.
German daily Handelsblatt reported in mid-August that Bayer was considering a hostile bid if faced with ongoing opposition from Monsanto.
A finalised deal would create a global leader in the genetically modified seeds and pesticides industry.
Monsanto pursued its own takeover of Swiss Syngenta for more than a year as well as BASF SE’s agrochemicals unit, Bloomberg reported.
BASF could still play the role of white knight helping Monsanto fend off Bayer’s bid, Bloomberg said in mid-July. –