DW.com reports that “after months of unsuccessful courting, German chemicals giant Bayer is reportedly considering an unsolicited bid for the US seed specialist, which rejected an improved offer from the Germans in July.”
Here is an excerpt from the DW.com article:
Monsanto has already rejected two offers from Bayer, calling an increased bid of $125 (111 euros) per share in July “financially inadequate” because it continued to undervalue the biotech seed giant. However, Monsanto left the door open to further talks.
“In the coming weeks, chief executive Werner Baumann will make a decision: namely whether a friendly merger is still possible, or whether Bayer must choose an alternative path,” the sources told Handelsblatt.
By merging the two companies, Baumann hopes to create a globally dominant agrochemical firm with revenues of up to $25 billion. Bayer’s last offer valued Monsanto at around $64 billion.