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Bayer offers R670bn cash to buy Monsanto

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(iStock)
(iStock)

Melbourne - Bayer offered to acquire Monsanto in an unsolicited bid worth about $62bn (R670bn) to create the world’s biggest supplier of farm chemicals and genetically modified seeds.

The company offered $122 (R1 908) per share in an all-cash bid, it said in a statement on Monday.

That’s a 20% premium to St Louis-based Monsanto’s last close in the US. Bayer expects total synergies from the deal of about $1.5bn after the third year.

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