LONDON — Negotiations between Bayer and Monsanto are advancing towards a deal after the companies made progress on issues including the purchase price and termination fee, people familiar with the matter said.Bayer CEO Werner Baumann and his US counterpart Hugh Grant have had a series of constructive meetings in recent weeks, said the people, who asked not to be identified because the discussions are private.The companies, in talks to create the world’s largest producer of seeds and pesticides, could reach an agreement in the next two weeks, said the people, who cautioned that negotiations could still fall apart or be delayed.Leverkusen, Germany-based Bayer has been examining Monsanto’s financial accounts as it weighs a new offer, people familiar with the matter said earlier this month.Monsanto in July rejected Bayer’s improved $55bn bid, describing the $125-a-share proposal as "financially inadequate". A deal would end months of back-and-forth that followed Bayer’s initial offer in...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.