Shares in Monsanto are up nearly 18% at $90 a share in pre-market trading.
Advertisement
Monsanto is the maker of Roundup.
Monsanto Co. shares climbed more than 10% early Thursday following published reports that Germany’sBayer AG and BASF SE were considering separate bids for the USA seeds and pesticide maker.
The combined company would become the largest supplier of farm chemicals and seeds, according to the report. In December, Dow Chemical and DuPont announced a planned $68.6 billion merger.
No final decision has been made and Bayer could decide not to pursue a bid or could explore other transactions with St. Louis-based Monsanto, such as joint ventures or asset sales. Monsanto and BASF did not immediately respond to CNBC’s comment request.
Bloomberg News reported on Thursday that Bayer was exploring a bid for Monsanto, while financial news website Street Insider reported that BASF was also looking at a Monsanto acquisition. Bloomberg News reported Thursday on its website, citing people familiar with the matter.
German chemical conglomerate Bayer AG (BAYN.XE) is considering a bid for Monsanto Co.
Advertisement
Bayer is valued at about $96 billion and has discussed how to finance a deal, including potential asset sales, Bloomberg said.
