Bayer raises bid for Monsanto

German chemicals giant Bayer raised its bid for US rival Monsanto against a backdrop of intense negotiating activity between companies in the sector.

Bayer upped its bid to $125 per share.

In the previous session Bloomberg reported that the US firm had revived talks with BASF AG - among other options which were on the table - about a possible merger of their respective agricultural chemical units, citing people familiar with the matter.

Monsanto rejected a $122 per share bid from Bayer in May.

As of 17:01 BST shares in Monsanto were changing hands 2.52% higher at $103.69.

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