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Monsanto. . . has still not opened its books more than two weeks after it rejected Bayer AG’s $62 billion acquisition offer but left the door open to a possible deal, according to people familiar with the matter.
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Monsanto has said that Bayer’s offer “significantly undervalues (the) company and also does not adequately address or provide reassurance for some of the potential financing and regulatory execution risks related to the acquisition.”
Bayer, however, has no plans to increase its offer without first reviewing Monsanto’s confidential information, the sources said on condition of anonymity because of the confidentiality of the talks.
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The Leverkusen-based company needs access to Monsanto’s books before it can decide whether it can pay a higher price, as well as offer a more detailed plan on how to address potential antitrust risks, the sources added.
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The Wall Street Journal had reported earlier on [June 10] that Bayer had made a new takeover approach to Monsanto that was rebuffed, in part because it didn’t include a higher price.
Read full, original post: Bayer waiting for Monsanto to engage after spurned bid: sources
