Bloomberg Businessweek (North America)

Bid/ask: Monsanto holds out for more; GE will help the Saudis move beyond oil

- By Karen Weise

$62b

Monsanto plays hard to get. The agricultur­al giant rejected Bayer’s takeover bid as too low but said it’s open to talks. Buying Monsanto would make Bayer the world’s biggest supplier of farm chemicals and seeds. Consolidat­ion in the industry may end up leaving just a few global companies that can offer a comprehens­ive range of products and services to farmers.

$5.4b

A fertilizer deal falls apart. In the latest plan to collapse after the U.S. adopted rules to curb tax inversions, Illinois-based CF Industries Holdings abandoned its purchase of Dutch rival OCI.

$3.4b

Money buys money. Ares Capital, a lender and private equity firm, plans to buy asset manager American Capital, which had been under pressure from activist investor Elliott Management.

$3b

GE invests in Saudi Arabia’s future. General Electric will team up with a state-owned investment company to build industrial facilities to reduce the Saudi economy’s dependence on oil.

$2b

An insurer goes smoke-free. Axa, France’s largest insurance company, says it will divest its assets in the tobacco industry, including selling stock and retiring bond holdings as they mature.

$340m

Energizer smells good. The battery maker will buy Handstands, which makes car fresheners. It’s Energizer’s first acquisitio­n since spinning off its personal-care-products business last year.

$160m

Lendingclu­b has a new shareholde­r. Companies controlled by Chinese billionair­e Tianqiao Chen disclosed a stake totaling as much as 11.7 percent of the embattled online loan marketplac­e.

$70.5m

Tribune gets a white knight. After receiving an investment from billionair­e Patrick Soon-shiong’s Nant Capital, the newspaper publisher rejected Gannett’s $864 million takeover offer.

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