Via STLToday.com (The St. Louis Post-Dispatch): Merger talks between Monsanto Co. and Bayer AG are advancing after a series of meetings in which the companies have addressed issues including the purchase price and a termination fee, Bloomberg News reported Tuesday, citing “people familiar with the matter.”
A merger agreement could be reached in the next two weeks, according to those sources, Bloomberg said.
Bayer CEO Werner Baumann and Monsanto CEO Hugh Grant have held “constructive meetings” in recent weeks, but Bloomberg said its sources caution that negotiations “could still fall apart or be delayed.”
Creve Coeur, MO-based Monsanto rejected Bayer’s $55 billion bid in July, calling the proposal “financially inadequate.” Bayer has since improved its offer.
Bayer and Monsanto spokespersons declined to comment on the latest developments, Bloomberg said.
Monsanto shares rose $2.60 to close Tuesday at $107.10.