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Bayer says it offered $62-B for Monsanto

Bayer says it has offered $62 Billion to buy Monsanto.  Bayer went public this morning, saying it made the all-cash offer on May 10th. The deal represents $122 per share – a 37% premium over Monsanto’s closing price on May 9th.

The unsolicited offer from the German company occurred three weeks after Bayer’s new CEO took over. Warren Baumann told reporters that they expect a positive response from Monsanto’s board of directors.

Bayer says “the combined business would benefit from Monsanto’s leadership in Seeds & Traits and Bayer’s broad Crop Protection product line.”