GMO giant Monsanto rejected a $62 billion takeover bid by the German pharmaceutical Beyer, saying the price was too low but adding it remained “open to further talks.”
Monsanto can “see the logic” of combining with the German corporation, and believes the merger could get the required approval from regulators, sources familiar with the talks told Reuters. However, the St. Louis, Missouri-based company believes its shareholders deserve a better offer.
Some Beyer shareholders were critical of the bid, saying the $122 per share was too high already. Monsanto’s shares rose to $107.61 on the New York Stock Exchange on Tuesday morning, short of Bayer’s valuation.
Meanwhile, Bayer’s shares rose by 3.23 percent, reaching 87.15 Euros at the Frankfurt exchange.
The German conglomerate now has to decide whether to raise the offer, walk away, or attempt a hostile takeover.
More BS monsanto needs a better name ,as they have the worst rep. Of any corp and this is worldwide Bayer or some other company will change this . And the sheep and useless eaterswill not realize the wolf just put on his sheep suit. BTW who owns the largest private army in the world ??
They’re afraid Bayer might dilute their # 1 evil corporation in the world rating.