Jul 20, 2016

Bayer ‘disappointed’ by Monsanto rejection

Bayer is disappointed in Monsanto’s decision to reject its increased all-cash offer of $125 per share, the company said in a statement. The offer represents a 40 percent premium over Monsanto’s closing share price on May 9, according to Bayer.

“The revised all-cash offer is a compelling opportunity and represents immediate and certain value for Monsanto shareholders amid recent weak business performance and Monsanto’s reduced mid-term outlook,” Bayer said in its statement.

Bayer reaffirmed that its offer would not be subject to a financing condition. In addition, Bayer has offered a $1.5 billion reverse antitrust break fee.

Bayer said it is looking forward to “continued dialogue with Monsanto under an appropriate confidentiality agreement allowing access to additional information.”
For more information, visit www.advancingtogether.com.