Bayer confirms advanced negotiations with Monsanto concerning a proposed transaction. While key terms and conditions have not yet been agreed, Bayer would be prepared to provide a transaction consideration of USD 127.50 per Monsanto share only in connection with a negotiated transaction. There can be no assurance that the parties will enter into an agreement.
The proposed transaction would be subject to regulatory approval and other customary closing conditions. The key conditions of a definitive transaction agreement must be approved by the Supervisory Board of Bayer AG.
"Last attempt"
“We see the current price offered as a last attempt to arrange for a negotiated transaction,” Peter Spengler, an analyst at DZ Bank AG, said in a note to clients. Bayer’s management team is likely to ask the supervisory board for approval for a hostile takeover when it meets next week, he wrote, and forecast that a deal would likely be completed at $130-$135 a share, Bloomberg reports.
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