“ The cash offer on Monsanto was increased to $ 125 per share additional information obtained during private discussions ,” said Bayer in a statement. This new offer was officially made to Monsanto on 9 July.
In what would be the largest acquisition by a German group Bayer initially put on the table in May 122 per share. He indicated that this represented a total enterprise value of $ 62 billion (including debt) or 55 billion euros.
No new global valuation Monsanto was provided Thursday by Bayer as the debt volume is changing, explained a spokesman.
A possible Monsanto passage in the German lap they grind teeth, however many in Germany, as in agriculture, among social democrats than slayers of GMOs for which it would be of “ a hellish marriage .”
In an attempt to seduce the controversial Roundup pesticide manufacturer, which found the offer “ financially inappropriate ” Bayer also now offers to pay Monsanto a fee of 1.5 billion, if their merger were to fail due to competition authorities.
Through this commitment, Bayer “ reaffirms its certainty that the transaction can be successfully curly .”
“ We are confident that this transaction is the best opportunity available ” to Monsanto’s shareholders, says Werner Baumann, the new boss of the German inventor of aspirin group.
$ 125 per share represents a premium of 40% over Monsanto May 9 before the first takeover rumors, is it said.
In a short statement, Monsanto said its executive committee “ would examine the proposal ” and there was “ no assurance that transaction takes place or lead, or in what terms . ”
At the New York Stock Exchange, this new offer did not jump up investors. The action still progressed 2.34% to 103.50 dollars at 4:45 p.m. GMT.
– BASF on rangs’-
The business daily Handelsblatt stated that Monsanto rather late June was a price increase of 10 to 15 dollars per share, far additional three dollars offered by Bayer.
Decided to leave court to raise prices, Monsanto’s boss did not hide the end of June have discussions with other potential buyers.
The group especially covet the agrochemical activities of another German chemical giant, BASF, to thwart the ambitions of Bayer, to which he still has not given access to his accounts, has reported Thursday Bloomberg News, without citing sources of information. But such discussions would be “ early .”
The name of BASF had already appeared in the speculations around this issue, such as a possible white knight for Monsanto. Asked BASF declined Thursday to comment.
In the opinion of many analysts, BASF can not afford to be casual observer of the global consolidation movement in chemistry, among others due to falling prices of agricultural products.
Monsanto had first tried to get hold of the Swiss Syngenta, eventually being swallowed by the Chinese ChemChina, while US Dow Chemical and DuPont are currently finalizing their merger.
“ The German chemical industry must adapt to the lowest growth rate of the Chinese market and other and the new configuration of competition in the United States and Asia , “said Peter Spengler, an analyst at DZ Bank.
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