Bayer Again Raises Offer For Monsanto

(RTTNews) - Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) again raised its offer to buy Monsanto (MON), though the German firm said the higher price depended on achieving a "negotiated transaction."

Bayer, which has been discussing a deal with Monsanto since mid-May, said it would pay $127.50 per share for Monsanto, up from its previous offer of $125 per share.

"While key terms and conditions have not yet been agreed, Bayer would be prepared to provide a transaction consideration of USD 127.50 per Monsanto share only in connection with a negotiated transaction. There can be no assurance that the parties will enter into an agreement," Bayer said.

Bayer had submitted an initial offer for Monsanto on May 23 and offered $122 per Monsanto share. Monsanto in July had rejected a sweetened $64 billion takeover offer from Bayer, stating it as financially inadequate and insufficient to ensure deal certainty. But, Monsanto later allowed Bayer to access to its financial accounts to conduct due diligence.