Monsanto’s shares are now up around three per cent to $103.66, while Bayer’s are also up, 0.5 per cent to €93.44.
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Bayer said that, after engaging in private talks with Monsanto, it had improved its offer from $122 per share to $125.
FRANKFURT • Bayer said on Thursday it had raised its offer for Monsanto to $125 per share from $122.
Talks between Monsanto and Bayer have been stalled for weeks after the German company refused to increase its initial offer of $62-billion unless it was allowed to look into the U.S. firm’s books – which Monsanto said it would agree to only in exchange for a higher offer.
Monsanto, BASF and Bayer might not be grabbed remark outside regular company hours. Not even the spokesman from Bayer could comment on whether they were rumors or just speculations.
MON’s board is said to be split over the merit of potential deals with rivals BASF and Bayer, with some execs eager to remain independent while others prefer a takeover.
Earlier this year, Monsanto held talks with both BASF and Bayer about possible deals after losing the battle for Syngenta to ChemChina, people familiar with the matter said in March. The price represented a 37 percent premium on Monsanto shares from their May 9 level.
What does it mean to have Monsanto Products integrate with BASF’s agrochemicals businesses? Averse to overpaying for assets, BASF until now has focused on smaller transactions, including the purchase of a coatings business from Albemarle Corp. for $3.2 billion last month.
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Apparently, it still maintains its partnership with BASF’s plant science unit since taking it over in 2007, but it does not reveal how much it makes from the venture.
