Bayer, quiet about Monsanto bid, posts 2Q income growth

Bayer was mostly mum on Monsanto during a second-quarter conference call Wednesday.

The two companies have been engaged in private discussions since July 19 when Monsanto, the Creve Coeur-based seed company, rejected a second takeover offer from Bayer, the German chemical and pharmaceutical company.

Bayer CEO Werner Baumann said Wednesday that his company wouldn’t give further public statement on the Monsanto deal at this time.

Bayer first offered to acquire Monsanto in early May for $62 billion, or $122 per share. Monsanto rejected the bid shortly after, saying the offer undervalued the seed company.

In a second bid earlier this month, Bayer raised its offer for Monsanto by $3 per share, to $125 a share, and promised a $1.5 billion breakup fee. Monsanto turned down the offer but made it clear that it’s open to further talks.

Although the German company didn’t disclose many details about their discussions, it’s possible that the two companies have signed a private agreement, which would allow them to exchange additional information about their businesses privately, the Wall Street Journal reports.

In Wednesday’s earnings release, Bayer reported results from its crop science division that were on par with the prior year’s results, despite a difficult market environment. The company as a whole saw its EBITDA before special items increase 5.7 percent.


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