The back and forth between Bayer and Monsanto continues, as the two crop input giants negotiate a possible takeover by Bayer.

The German pharmaceutical and agriculture company has raised its offer price once again, to US$127.50 per share — up from $125 in early July and $122 in the initial proposal issued in May.

In a brief statement issued late Monday, Monsanto said it has “been engaged in constructive negotiations with Bayer AG, during which it has received an updated non-binding proposal for a potential acquisition of Monsanto for $127.50 per share in cash.”

“Monsanto is continuing these conversations as it evaluates this proposal, as well as proposals from other parties and other strategic alternatives to enable its Board of Directors to determine if a transaction in the best interests of its shareowners can be realized.”

Reuters and CNBC are citing sources that say Monsanto is telling Bayer it is “close” with its price, and that a deal could happen within a matter of weeks.

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