Acquisition Battle Monsanto Gives Bayer the Could Shoulder
After weeks of negotiations and speculations Monsanto again refuses the revised proposal from Bayer as financially inadequate and insufficient to ensure deal certainty.
Leverkusen/Germany; St. Louis/USA – Bayer said that it is disappointed in Monsanto’s decision to reject its increased all-cash offer of USD 125 per share, which represents a 40 percent premium over Monsanto’s closing share price on May 9, 2016. 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.
Bayer reaffirmed that its offer would not be subject to a financing condition. In addition, Bayer has offered a USD 1.5 billion reverse antitrust break fee, reaffirming its confidence in a successful closing.
Bayer is looking forward to continued dialogue with Monsanto under an appropriate confidentiality agreement allowing access to additional information.
Monsanto remains open to continued and constructive conversations with Bayer and other parties to assess whether a transaction that the Board believes is in the best interest of Monsanto shareowners can be realized, Monsanto said. Furthermotre the company insured that there is no assurance that any transaction will be entered into or consummated, or on what terms.