Monsanto Rejects Bayer’s Revised Marriage Proposal

(Photo: Bayer AG)

Monsanto’s Board of Directors says Bayer’s latest offer to buy the company is still “financially inadequate and insufficient to ensure deal certainty.”

Last week, Bayer said it had raised its bid to acquire Monsanto and addressed Monsanto’s concerns about regulatory and financing issues. The per-share cash offer was raised from US$122 to US$125. Bayer also offered Monsanto a US$1.5 billion reverse antitrust break fee to show its confidence in successfully clearing regulatory approvals.

In a statement Tuesday, Monsanto’s board said it unanimously rejected the offer, but it remains open to continued conversations with Bayer “to assess whether a transaction that the Board believes is in the best interest of Monsanto shareowners can be realized.”

Related:

 

RealAgriculture News Team

A team effort of RealAgriculture's videographers and editorial staff to make sure that you have the latest in what is happening in agriculture.

Trending

Wheat prices jump into August — This week in the grain markets

This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In…Read more »

Related

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.