Monsanto publicly announced late Wednesday that the company was reviewing a proposal by Bayer AG to acquire Monsanto. Earlier in the week, BASF and Bayer were reportedly interested in acquiring the St. Louis, Missouri-based company. Monsanto confirmed the company has received what officials call an “unsolicited, non-binding proposal” from Bayer, subject to “due diligence, regulatory approvals and other conditions.” Further, the company says the Board of Directors of Monsanto is reviewing the proposal, in consultation with its financial and legal advisors.
The proposal by Bayer comes a year after Monsanto was making offers to purchase Swiss-based Syngenta worth up to $46 billion. However, state-owned ChemChina and Syngenta agreed to an all-cash deal worth $43 billion.
Source: NAFB News Service