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Bayer of Germany has made a takeover bid for Monsanto, potentially signaling another huge merger in the business of crop seeds and pesticides.
While the companies did not disclose details of the offer, a tie-up of the two companies would yield a giant whose products encompass antibiotics, genetically modified crop seeds and pesticides. It would have a combined annual revenue of more than $67 billion.
In a short statement late Wednesday, Monsanto said its board was reviewing the proposal. Bayer said early Thursday that it had recently met with Monsanto executives to discuss a potential deal, saying it “would create a leading integrated agriculture business.”…
As crop prices fall, analysts and investors have anticipated a flurry of deals among companies that service the farming industry. Monsanto, which failed to buy its rival Syngenta last year, has been seen as a potentially attractive takeover target.
Bayer and BASF had each expressed interest in exploring some kind of joint venture with Monsanto in recent months.
It was unclear whether Monsanto is interested in pursuing a sale to either Bayer or BASF. A top executive at the seed company told Reuters at an investor conference on Wednesday that talk of a deal with either company was “wild speculation.”
Read full, original post: Bayer in Talks With Monsanto Over Mega-Merger