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Monsanto Company (NYSE: MON) confirmed Thursday that it received a revised, non-binding proposal from Bayer AG for a possible acquisition of the company. The company indicated that its Board would review the proposal, in consultation with its financial and legal advisors.
The company disclosed that it did not have any other comment until its Board has completed its review. The company added that there was no assurance that a transaction would be entered into or consummated.
Earlier, Wall Street Journal and other reports indicated that German-based Bayer sweetened its takeover bid for Monsanto to $125.00 a share from $1.22 a share. This meant that the total transaction cost would be approximately $65 billion.
Following the news, Monsanto shares traded 3 percent higher to $104.23.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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