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Monsanto rejects Bayer's bigger offer, ready to accept more

Staff Writer | July 19, 2016
Monsanto rejected a sweetened $125-per-share offer from Bayer but said it was open to continue talks with the German chemicals group as well as other parties.
Acquisition   "Monsanto remains open"
Monsanto said its board unanimously viewed Bayer's latest bid as "financially inadequate and insufficient to ensure deal certainty."

"Monsanto remains open to continued and constructive conversations with Bayer and other parties to assess whether a transaction that the board believes is in the best interest of Monsanto shareowners can be realized," the company said.

Bayer will examine Monsanto's response to the revised offer, a company spokesman said.

The German company disclosed last Thursday that it increased its bid by $3 per share, making the $125-per-share offer the largest all-cash bid on record. It also offered a $1.5 billion reverse anti-trust breakup fee.