The German conglomerate Bayer has lifted its takeover offer to U.S. competitor Monsanto up to $64 billion in its most recent endeavor to establish the world’s biggest provider of agricultural sprays.
Bayer stated it had officially increased its all-cash bid for Monsanto by $3 per share to 4125 a share after talks between the involved parties, which have been occurring in private, ended last week.
Bayer determined to raise pressure on Monsanto’s board of directors by publicizing its most recent offer on Thursday. A deal would be the biggest outbound takeover by a German company since Daimler-Benz took over Chrysler in 1998. The firm originally made a bid of $62 for Monsanto in May, which was immediately rejected by the company, stating it was ‘incomplete and financially inadequate’.
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