by Ben Nuelle LISTEN: Money Matters 9-7-16
Bayer increases bid to buy Monsanto. Will they strike a deal this time?
In a released statement, Bayer confirms talks with Monsanto about upping their offer to buy the company. Bayer proposed buying Monsanto at 127.50 per share. That now raises Bayer’s offer to $56 billion.
According to the Wall Street Journal, Monsanto acknowledged the improved offer and called the discussions “constructive.” Both companies have not yet agreed on terms and conditions. There is no assurance both parties will enter into an agreement.
The proposed transaction would be subject to regulatory approval and other customary closing conditions. The key conditions of a definitive transaction agreement must be approved by the Supervisory Board of Bayer AG and Monsanto.
I spoke with Bayer-North America CEO Jim Blome at this year’s farm progress show and the topic of trust came up. INTERVIEW: Jim Blome, Bayer North America CEO