German pharmaceutical giant Bayer says it’s now willing to pay $127.50 per share of Monsanto Co. to buy the American seed company, up from its previous offer of $125 per share.
The Associated Press reports that Bayer issued a statement this morning announcing its new offer to buy Monsanto, which in April announced it is moving forward a $975 million expansion of its plant in St. Charles Parish.
The statement from Bayer lays out no further details on the takeover bid and says “there can be no assurance that the parties will enter into an agreement.” Monsanto, based in St. Louis, Missouri, has already rejected two offers from Bayer and described the previous offer in July as inadequate.
At the time, the company said it remained open to talks with Bayer and others about a deal. Monsanto confirms its received the new Bayer bid but would not comment further as it evaluates it.
