Bayer Working on All Cash Monsanto Bid, Financial Times Says

May 23, 2016 02:55 AM

Germany’s Bayer AG is putting the finishing touches on an all-cash offer to buy Monsanto Co. and could make it public as early as Monday morning, the Financial Times reported, citing people familiar with the matter.

The timing of the offer is still not certain, the newspaper reported. Monsanto has a market cap of about $44 billion. The two companies couldn’t immediately be reached for comment.

Monsanto, the world’s largest seed maker, last week said it received an unsolicited takeover offer from Bayer. That proposal was non-binding, Monsanto has said.

Any deal between the two companies would bring together brands such as Roundup, Monsanto’s blockbuster herbicide, and Sivanto, a new Bayer insecticide. Shares of Bayer fell last week amid concern that acquiring Monsanto could put pressure on its credit rating and drive the company to sell more stock.

The proposal comes after Monsanto’s failed attempt to buy Switzerland’s Syngenta AG. A wave of deals is already reshaping the seed and crop-chemicals industry. China National Chemical Corp. agreed in February to acquire Syngenta for about $43 billion, and DuPont Co. and Dow Chemical Co. plan to merge in a $65.6 billion deal.

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