Monsanto Turns Back Bayer Again
June 14, 2016 Bayer AG’s bid to buy Monsanto Co. for more than $60 billion has hit an impasse that could pose a challenge for the blockbuster agriculture tie-up, reports Jacob Bunge and Eyk Henning on WSJ.com.
Bayer has offered to buy the U.S. seed giant for $62 billion including debt, or $122 a share, which Monsanto last month rejected as too low.
In an effort to bring Monsanto to the negotiating table, Bayer in recent days sent the company a letter saying it has lined up financing for the deal and is confident any regulatory obstacles can be overcome, according to people familiar with the matter.
It sought access to detailed business information, known as due diligence, which Bayer said could lead to a higher offer. Bayer didn’t increase its bid.
Read the full story on WSJ.com.
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