Deals
Monsanto Poised to Reject $62 Billion Bayer Takeover Bid
- Seed company is said to seek higher price, more time for talks
- Monsanto said to remain open to exploring a deal with Bayer
Monsanto Said to Reject Bayer Offer
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Monsanto Co. is poised to reject a $62 billion takeover offer from Germany’s Bayer AG as too low, according to people with knowledge of the matter, potentially derailing a proposed deal to create the world’s biggest supplier of farm chemicals and seeds.
The St. Louis-based company is seeking a higher price and more time to hold negotiations with Bayer, the people said, asking not to be identified because the deliberations are private. Monsanto is still open to exploring a deal because it sees the strategic rationale of a combination, they said. Monsanto’s board was unanimous in its rejection of the Bayer offer, one of the people said.