News
Monsanto leaves door open
30 May 2016Monsanto has announced that it views the Bayer proposal to acquire it for $62 billion as incomplete and financially inadequate, but is open to continued and constructive conversations.
Monsanto has announced that it views the Bayer proposal to acquire it for $62 billion as incomplete and financially inadequate, but is open to continued and constructive conversations to assess whether a transaction in the best interest of Monsanto shareowners can be achieved.
“We believe in the substantial benefits an integrated strategy could provide to growers and broader society, and we have long respected Bayer’s business,” said Hugh Grant, Monsanto Chairman and CEO. “However, the current proposal significantly undervalues our company and also does not adequately address or provide reassurance for some of the potential financing and regulatory execution risks related to the acquisition.”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.