Monsanto Company (MON) stock was up following news that Bayer AG (ADR) (BAYRY) is in talks to acquire it.
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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