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EU: Bayer raises bid for Monsanto stock to $54.7 billion in cash

 |  July 14, 2016

Bayer AG has raised the stakes in its attempt to buy Monsanto and create a chemical and agricultural giant.

Two months after its first offer for the seed and farm products manufacturer was rejected, the German company upped its bid to $54.7 billion in cash, a $3-a-share increase to $125 a share. Thursday’s proposal came just hours after news that St. Louis-based Monsanto might entertain a deal with another German chemicals giant, BASF SE.

Yet the developments at Bayer, Monsanto and BASF all underscore the brisk consolidation sweeping the chemicals business, as well as Bayer Chief Executive Officer Werner Baumann’s determination to form the world’s largest supplier of crop seeds and chemicals. Monsanto said Thursday that its board was reviewing the offer, which includes several sweeteners to try and get the transaction done.

Full Content: CNBC

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