May 23, 2016
Bayer, Monsanto close to merger deal: report
Bayer AG and Monsanto are nearing to an agreement that would result in what's possibly the world's largest seed company, FOX Business Network reported.
The merger could be announced soon this month, bankers with knowledge of the matter said. However, the deal is "not complete" and is still at risk of delay or a termination of transaction.
Monsanto is reviewing the agreement following revelations that it received an unsolicited, non-binding proposal from Bayer which sought for acquisition of the corporation.
A successful deal would amount to US$44 billion, and confer Bayer a significant spot in the genetically modified (GM) crop business, according to a Wall Street Journal report.
After news of the potential deal broke, Monsanto's shares gained 8% in May this year.
- FOX Business