Monsanto rejected Bayer’s current proposal as its incomplete and financially inadequate

25th May, 2016

World agrochemical net Chinese website reported that, according to the latest news, Monsanto refused the Bayer’s $62 billion takeover bid, said the company deserves a higher bid. The Monsanto Board of Directors has not set a timeline for further discussions and Monsanto does not intend to make further comment at this time.

According to the company’s website, Monsanto referred to as “the board of directors agreed that the bayer corporation’s proposal is not entirely and quotation, but is willing to continue constructive dialogue to evaluate whether a deal for monsanto shareholders’ best interests.”

“We believe that an integrated strategy for growth and broader substantial benfits, we have been also very respect for bayer,said Hugh Grant, Monsanto Chairman and CEO. Yet offer significantly underestimated our company, and also unable to adequately address or security risk of potential financing risk and regulatory scrutiny of mergers and acquisitions.”

Bayer spokesman said the company will review and consider Monsanto’s response.

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