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Bioscience News - GEG Tech top picks
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Monsanto (MON) Stock Soaring on Possibility of Improved Bayer Bid
BigField GEG Tech's insight:
Monsanto (MON) stock is up on the possibility of receiving an improved takeover bid from Germany's Bayer (BAYRY).
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BigField GEG Tech's insight:
On Monday morning, Bayer unveiled a $62 billion unsolicited takeover offer for Monanto that values the company at $122 a share. At $122 a share, the bid is a 37% premium to Monsanto’s closing share price on May 9 and comes at a multiple of 15.8 times its previous twelve months of earnings before interest, taxes, depreciation and amortization.
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BigField GEG Tech's insight:
German drugmaker Bayer and Monsanto are closing in on a deal, with Monsanto telling Bayer that it is "close" on price, sources told CNBC Tuesday.
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BigField GEG Tech's insight:
Monsanto rejected Bayer’s $62 billion takeover offer, saying the biotech seed giant’s business merited a higher price, though Monsanto said it remains open to further talks on a deal.
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Bayer said it would buy Monsanto for $66 billion including debt, creating one of the world’s largest agrichemical firms.