, Columnist
Monsanto's Helpful `No'
The seed giant is paving the way for friendly talks -- and a higher price.
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Monsanto's rejection of Bayer is about as helpful as a snub can be. Yes, the U.S. seed giant said its German suitor's $62 billion proposal is too low. But it sugared the pill by endorsing the strategic logic of a combination. Here's Monsanto CEO Hugh Grant:
That open display of agreement is unusual in contested takeover situations. Coupled with Monsanto taking two weeks to deliberate, it signals a potential willingness to sell. Bayer still faces an uphill struggle to secure a transaction -- not least of which are the regulatory risks, which Monsanto cited in its rejection notice on Tuesday -- but the climb may have just got a little less steep.