Bayer on Monday night confirmed further negotiations with Monsanto over the company's proposed acquisition. The new offer is $127.50 per Monsanto share, 2% more than their previous offer.
Monsanto confirmed receiving the new offer. "Monsanto 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 realized," the company says in a news release concerning the updated offer.
Both companies offered no further comment.
While there is no guarantee the companies will merge, Bayer has proved persistent with their updated offers. Bayer says the combination would build on the efficiency and expertise of both companies in agricultural seed and chemicals.
Stay tuned for more updates on the proposed acquisition on AgWeb.com.