German pharmaceutical giant Bayer has raised its offer to buy the US agrochemical firm Monsanto. The higher bid puts the value of the American company, including its debt, at more than $65 billion.
Bayer, which has been negotiating the deal since May, said it has advanced in talks with the global genetically modified organism (GMO) leader. The German company is reportedly ready to pay $127.50 per share. That is two percent more than its previous bid of $125 a share, and 19 percent above Monsanto’s last closing price.
Earlier this week German daily Rheinische Post reported that Bayer could raise the offer to $130 per share in order to clinch a deal with Monsanto “in a swift and friendly way.”
Acquiring the world’s leading GMO producer will enable Bayer to create a global corporation with a deep portfolio in pesticides.
Source: Pharma giant Bayer raises offer to acquire Monsanto