farm-supplies
Bayer defies critics with $62 billion Monsanto offer
May 23, 2016 by publisher · Leave a Comment
By Ludwig Burger and Georgina Prodhan FRANKFURT (Reuters) – German drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry. Monsanto Co's stock rose 5 percent to $106.61 by midday trade on the New York Stock Exchange – well below Bayer's offer price, in a sign that it faces a tough task …
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Bayer defies critics with $62 billion Monsanto offer