Monsanto rejects Bayer's $62 billion bid

摘要

US seeds group Monsanto did not even wait 24 h before publicly turning down Bayer's takeover bid, calling it incomplete and financially inadequate. Monsanto said it undervalued its potential and would encounter difficulties with the world competition authorities. However, Monsanto said it was open to constructive talks but will only go to the negotiating table if Bayer is willing to increase its offer. On 23 May 2016 the German chemicals giant offered $122/share in Monsanto ($62 billion for all shares in the group). By acquiring Monsanto, Bayer would create the world market leader in agro-chemicals with a ?23.1 billion turnover (based on 2015 figures).