World Economy

Bayer Raises Offer for Monsanto

Bayer Raises Offer for MonsantoBayer Raises Offer for Monsanto

German pharmaceutical giant Bayer AG says it’s increasing its bid for American seed company Monsanto Co, AP reported. The Leverkusen-based drug and chemicals company said in a statement early Tuesday it was offering $127.50 per Monsanto share, up from the previous $125 a share offer that had valued Monsanto at around $65 billion. It gave no further details on the takeover bid and said “there can be no assurance that the parties will enter into an agreement.” Monsanto has already rejected two offers from Bayer and described the previous offer in July inadequate.