Business and agricultural publications report that Monsanto may be investigating the purchase of BASF’s agricultural business after rejecting Bayer’s $62 billion takeover bid earlier this year.

At the same time, both Bayer and Monsanto have confirmed that the former has submitted a revised, and higher, bid for its American rival. In a press release issued on 14 July Bayer said it had increased its takeover bid to $125 per share (the previous bid was $122 per share) in an offer submitted to Monsanto on 9th July.

Bayer CEO Werner Baumann said, “We are convinced that this transaction is the best opportunity available to provide Monsanto shareholders with highly attractive, immediate and certain value. Bayer is fully committed to pursuing this transaction.”

However, in the financial markets, a Monsanto acquisition of part of BASF was seen as easier to pull off. “Looking at the agricultural chemicals and seeds landscape, Monsanto-BASF is the most logical combination,” said Christian Faitz, an analyst at Kepler Cheuvreux.

Other consolidation in the sector includes the announced merger of Dow Chemical and DuPont and ChemChina’s ongoing acquisition of Syngenta.

Photo Caption: BASF’s US headquarters

Photo Credit: BASF

The post BASF latest company to be linked to Monsanto appeared first on Hort News on 15 July 2016.