Bayer Makes $62 Billion Offer for Monsanto
May 23, 2016, 11:09 AM
(BERLIN) — German drug and chemicals company Bayer AG announced Monday that it has made a $62 billion offer to buy U.S.-based crops and seeds specialist Monsanto.
The proposed combination would create a giant seed and farm chemical company with a strong presence in the U.S., Europe and Asia.
Bayer said the all-cash offer values shares of Monsanto at $122 each. That compares with a closing price Friday of $101.52 and is 37 percent higher than the closing price of $89.