Bayer raises of­fer to buy Mon­santo

The Myanmar Times - - International Business -

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. –

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