Bayer Updates Offer to Acquire Monsanto

September 8, 2016

1 Min Read
Bayer Updates Offer to Acquire Monsanto
The Bayer AG cross logo. Image courtesy of Flickr user

Monsanto Company said it is taking part in “constructive negotiations” with Bayer AG after the German chemical and pharmaceutical company updated its offer to buyout the St. Louis-based corporation, according to press releases issued separately by both parties.

Bayer’s first offer to purchase Monsanto in May valued the St. Louis company’s stock at $122 per share, which Monsanto rejected. In July, Monsanto’s board of directors declined second Bayer’s all-cash offer of $125 per share, a total of about $65 million. The third and latest proposal increased the proposed payment per share of Monsanto’s stock to $127.50.

“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 shareholders can be realized,” the company’s press release said.

Both Monsanto and Bayer reiterated that a transaction is uncertain and that if the companies decide to move forward, the acquisition is still subject to regulatory approval and other customary measures.

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