Bayer Reportedly To Raise Offer To About $129/Shr For Monsanto

(RTTNews) - Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) is preparing to increase its takeover offer for Monsanto Co. (MON), according to media reports, citing people familiar with the matter.

Bayer to raise its offer to about $129 per share for Monsanto, compared with the $127.50 it proposed in early September, the reports stated.

The reports specified that the deal is likely to be announced as early as Wednesday morning in New York soon after Bayer's board meets to sign off on the deal.

Monsanto's management board is scheduled to discuss and potentially approve the proposal Tuesday, the reports said. Bayer's supervisory board is set to review the deal Wednesday.

As part of its latest proposal, Bayer will also offer to double, to $3 billion, the compensation it would have to pay to Monsanto if the deal is stopped by competition regulators.