Bayer Ups Bid To Buy Monsanto
Bayer AG has boosted its takeover offer for Monsanto Co. to about $65 billion in a bid to overcome the U.S. seed company’s resistance to the tie-up and join a parade of consolidation in the agriculture industry, reports Eyk Henning, Jacob Bunge, and Christopher Alessi on WSJ.com.
Bayer made the new $125-a-share offer verbally on July 1 and more formally eight days later, it said in a statement last week confirming an earlier report by The Wall Street Journal. The new bid represents a $3-a-share — or $3 billion — bump from an earlier proposal Monsanto rejected as too low.
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