Bayer Secured Funding for Monsanto Bid

Despite Monsanto rejecting a takeover bid by Bayer AG, Bayer has secured $67 billion in financing for the proposal. Bayer reportedly picked five individual banks to each provide about $12.5 billion in short-term loans to secure financing. The loan reportedly includes an option to be increased should the company bump its current offer of $122 per share. According to a report, the loan totals 60 billion euros, or $67 billion, and can be expanded up to 75 billion euros. Monsanto has rejected Bayer’s initial $62 billion buyout offer, claiming the proposal was too low. Acquiring Monsanto would make Bayer the world’s biggest supplier of farm chemicals and seeds.

Source: NAFB News Service

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