Monsanto Confirms Sweetened Bid From Bayer
6 September 2016 Monsanto Co. on Monday confirmed it has been engaged in “constructive negotiations” with Bayer AG, during which it received an updated proposal for a potential acquisition of the company for $127.50 per share in cash, totaling more than $65 billion.
“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,” the world’s largest seed company said in a statement.
It said it will have no further comment at this time. According to a report on Tuesday from CNBC, which quoted anonymous sources familiar with the matter, Monsanto told Bayer that it is “close” on price, and that the deal could happen within a week or two.
Morgan Stanley & Co. and Ducera Partners are acting as financial advisors, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Monsanto.
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