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Monsanto rejects Bayer’s offer

monsanto sign-post-dispatchMonsanto has rejected Bayer’s 62 billion dollar acquisition bid and might seek a higher price. In a statement, Monsanto said the offer was “incomplete and financially inadequate” but said it is open to “continued and constructive conversations” with Bayer to assess whether a transaction would be in the best interest of Monsanto shareholders.

Monsanto chairman and CEO Hugh Grant says they have long respected Bayer’s business and an integrated strategy could benefit growers and the broader society. Monsanto says it can offer no assurance that a transaction will take place.

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