Bayer sweetens bid for Monsanto again

Bayer has confirmed it is in advanced negotiations with US agrochemical and agricultural biotechnology firm Monsanto and would be prepared to offer $127.50 per share for the company, up from a previous offer of $125 in July.

The German chemical company’s initial offer back in May of $122 per share was rejected by Monsanto for being “financially inadequate”.

The latest offer is 19% higher than Monsanto’s closing price on Monday.

Bayer said there can be no assurance the parties will enter into an agreement.

Monsanto said in a statement that it is “continuing these conversations as it evaluates this proposal, as well as proposals from other parties and other strategic alternatives to enable its board of directors to determine if a transaction in the best interests of its shareowners can be realised”.