Loading...
Loading...
- May 12th, rumors surface of a $40B Bayer bid for Monsanto Company MON. Monsanto shares popped 17 percent premarket.
- Bloomberg reports that Piper Jaffray calls the news nothing but “speculation.” Jaffray analyst noted, however, that Bayer would make the best fit of all the potential acquirers.
- The afternoon of May 18th, Reuters reported that Monsanto President and COO Brett Begemann called Bayer takeover rumors “wild speculation.”
- The night of May 18th, Dow Jones reported that Bayer made an unsolicited bid for Monsanto. The offer was confirmed by Monsanto early the next morning.
- May 23rd, Bayer offers $122/share in cash for Monsanto, imputing a $62B valuation. This would have made it the biggest deal of 2016.
- The next day, Monsanto rejected that bid, deeming it financially inadequate. The company indicated they were still eager to continue talks.
- Bayer responded early this morning that they are willing to explore upping the offer.
Shares of Monsanto traded at $112.66 a half hour into the trading day, up 3 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in