Another Bayer bid to buy Monsanto has been turned down.
A Wall Street Journal story says the offer is for about the same amount of money, Bayer has assured Monsanto that financing is lined up and that Bayer is confident about overcoming regulatory hurdles.
Bayer offered to buy Monsanto for $62 billion including debt, but Monsanto says it’s too low.
Bayer attempted due diligence by asking Monsanto for detailed business information. Monsanto turned that down and says it needs clarity on regulatory risks before agreeing to a deal.
A merger between the two would create the world’s largest seed and crop protection supplier. Additional consolidation is being perused between Dow and DuPont and between Syngenta and ChemChina.
Monsanto declined to comment.
Source: brownfieldagnews.com