Bloomberg : Monsanto Revives Talks With BASF

(RTTNews) - Monsanto Co. (MON) has revived talks with BASF SE (BFA.L, BASFY.PK) about a possible combination of their agrochemicals businesses, as it seeks alternatives to a takeover offer from Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L), Bloomberg reported citing people familiar with the matter.

The report noted that The U.S. company is exploring various transactions, including the potential acquisition of BASF's agriculture-solutions unit. In return, Ludwigshafen, Germany-based BASF would likely receive newly issued shares in Monsanto. The discussions are at an early stage, and no final decisions have been made. Talks with Bayer are continuing.

Monsanto's board is split over the merit of potential deals with rivals BASF and Bayer, the report said, with some executives keen to remain independent and others preferring a takeover. The company in May rejected a $122-a-share offer from Bayer, saying the bid, which valued the company at $62 billion, was too low. It said in its earnings statement last month that it has been in discussions over the last several weeks with Bayer, as well as with other parties, about "alternative strategic options."