Bayer bids to buy Monsanto
Published by Angharad Lock,
Digital Assistant Editor
World Fertilizer,
The offer of US$122 per share represents a 37% premium to Monsanto's share price before rumours of a bid emerged.
According to Reuters, Bayer has offered to buy Monsanto for US$62 billion in cash, including debt.
The acquisition would create the world's largest farm supplier eclipsing a planned combination of Dow Chemical and DuPont's agriculture units. It follows Werner Baumann becoming Bayer CEO.
The offer of US$122 per share represents a 37% premium to Monsanto's share price before rumours of a bid emerged.
"We fully expect a positive answer of the Monsanto board of directors," Baumann told reporters.
Monsanto has yet to comment.
Read the article online at: https://www.worldfertilizer.com/potash/23052016/bayer-bids-to-buy-monsanto/
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