Monsanto rejects $62-billion Bayer bid, but says it’s still open to talks
Monsanto is rejecting Bayer’s $62-billion takeover bid, calling it “incomplete and financially inadequate.
However, the seed company suggested Tuesday that a higher bid might be accepted, saying that it remains open to talks.
Monsanto Co. Chairman and Chief Executive Hugh Grant also said in a release that the initial offer failed to address potential financing and regulatory risks.
See the most-read stories this hour >>
Bayer, a German drug and chemicals conglomerate, made an all-cash bid that valued Monsanto’s stock at $122 a share.
A combination of the two businesses would create a giant seed and farm chemical company with a strong presence in the U.S., Europe and Asia.
MORE FROM BUSINESS
More young adults live with parents than partners, a first
Venture capital firm March Capital Partners debuts with $240-million fund
Photos and videos will no longer count against Twitter’s 140-character limit
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
