Bayer raises bid yet again to finalise Monsanto deal
Bayer has taken yet another step in its dedicated efforts to acquire Monsanto as it raises its offer to $129 a share from its earlier offer last week.
This new offer places the German company’s valuation of the US agricultural group at $56.5 billion, up half a billion from its previous bid. The company is also prepared to double the antitrust break fee to approximately $3 million. This move comes as Bayer attempts to sweeten the deal and move into the final stages of discussion.
It is reported that Monsanto’s management board has discussed the proposal and even potentially approved it, with Bayer’s supervisory board set to make a review of the deal later today.
The deal, if completed, would be the biggest deal this year and the largest ever by a German company.
Updates to come later today.