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Bayer offers to buy Monsanto in global agrochemicals shakeout
Source: Reuters
Business | Thu May 19, 2016 1:15pm EDT
Bayer offers to buy Monsanto in global agrochemicals shakeout
NEW YORK/FRANKFURT | BY GREG ROUMELIOTIS AND MIKE STONE
German drugs and chemicals group Bayer has made an unsolicited takeover proposal to U.S. seeds company Monsanto, aiming to create the world's biggest agricultural supplier and take advantage of converging pesticides and seeds markets.
Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither released proposed terms.
The $42 billion market capitalization of Monsanto means that the deal would be likely to eclipse ChemChina's planned acquisition of Swiss agrichemicals company Syngenta -- a target Monsanto itself pursued last year -- and could face U.S. antitrust hurdles.
A Monsanto statement said that its board was reviewing the proposal, which is subject to due diligence, regulatory approvals and other conditions. There is no assurance that any transaction will take place, it added.
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Bayer offers to buy Monsanto in global agrochemicals shakeout
NEW YORK/FRANKFURT | BY GREG ROUMELIOTIS AND MIKE STONE
German drugs and chemicals group Bayer has made an unsolicited takeover proposal to U.S. seeds company Monsanto, aiming to create the world's biggest agricultural supplier and take advantage of converging pesticides and seeds markets.
Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither released proposed terms.
The $42 billion market capitalization of Monsanto means that the deal would be likely to eclipse ChemChina's planned acquisition of Swiss agrichemicals company Syngenta -- a target Monsanto itself pursued last year -- and could face U.S. antitrust hurdles.
A Monsanto statement said that its board was reviewing the proposal, which is subject to due diligence, regulatory approvals and other conditions. There is no assurance that any transaction will take place, it added.
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Read more: http://www.reuters.com/article/us-monsanto-m-a-bayer-idUSKCN0YA054
