Media reports started circulating news of the talks and Monsanto responded with its own statement on the matter. The company confirmed that it had received an unsolicited, non-binding proposal from Bayer for its acquisition.
MON’s Board of Directors are looking over the proposal and are consulting advisers. Morgan Stanley & Co. and Ducera Partners are financial advisers and the legal adviser is Wachtell, Lipton, Rosen & Katz.
Bayer also released its own statement in response to Monsanto’s confirming its intention to acquire the company.
Monsanto’s current market capitalization is currently $42 billion, which means that any offer made by Bayer will likely be higher than this.
MON stock was up 5% as of Noon Thursday.
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