Bayer says it is “disappointed” with Monsanto’s decision to reject its second buyout offer.
The latest offer was for $65 billion, which Monsanto said was “financially inadequate” for its shareowners. It was an increase of $3 billion over Bayer’s first offer.
Bayer says its latest offer is a 40-percent premium over Monsanto’s closing share price on May 9 and would have offered a compelling opportunity for Monsanto shareowners amid recent weak business performance. The New York Times reports Monsanto shares, which have traded consistently below Bayer’s offers, were flat at midday Tuesday.
Bayer and Monsanto have both said they look forward to continued discussions on the matter.
Source: brownfieldagnews.com