Bayer AG reportedly is considering making an unsolicited bid for St. Louis-based Monsanto Co., which last month rejected the German firm’s improved $125-a-share offer.
Bayer officials are preparing a plan to “turn directly to shareholders” to effect a merger, German business publication Handelsblatt reported Tuesday, citing sources close to management.
Bayer has already had two offers rejected by the Creve Coeur-based agriculture company, which called the most recent bid in July “financially inadequate.” Bayer’s most recent offer valued Monsanto at about $64 billion.
A hostile bid could see Bayer’s offer approach its upper limit, increasing its last bid by 5-10 percent.
Read more: St. Louis Business Journal