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Bayer says its offer for Monsanto is good

Bayer says its offer of $62 billion for Monsanto is a good offer. It’s an all-cash offer of $122 per share. Monsanto rejected it Tuesday, saying it was “financially inadequate” but that the company is willing to keep talking with Bayer.

In a statement, CEO Warren Baumann of Bayer AG responded by saying they’re confident that financing and regulatory matters related to the transaction can be worked out.

He said they’re pleased Monsanto shares Bayer’s belief in the benefits that integrating the two companies “could provide to growers and the broader society.”