CEO of GM crops pioneer says $122-a-share cash offer undervalues US agribusiness giant and fails to give enough assurances
GM crops pioneer Monsanto has rejected the $62bn takeover bid by German drug and chemicals firm Bayer as too low, but has expressed willingness to entertain further talks on a merger.
Its chairman and chief executive, Hugh Grant, said the offer significantly undervalued the US agribusiness giant and failed to give enough assurance on how the deal would be financed or the overcome possible regulatory challenges.
Related: Bayer bids $62bn for GM seed giant Monsanto
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