Bayer would be prepared to pay $127.50 a share if the two sides can reach an accord, the company said late on Monday in a statement. The new offer is 2 percent more than Bayer’s previous bid and 19 percent above Monsanto’s last closing price. There’s no assurance an agreement will be reached, Bayer said.
The latest offer helped mute concerns that Bayer would overpay while stoking speculation that the German firm may take a hostile approach if negotiations over the price fail. Monsanto expects to get at least $130 per share, analysts at Commerzbank AG and Sanford C. Bernstein said on Tuesday.
Read more: Bloomberg