Bayer Offers to Buy Monsanto For $62B

Bayer, the German drugs and chemicals group, has offered to buy Monsanto, the GM seed pioneer, for $62 billion. The deal would be the biggest takeover by a German company, creating the world’s biggest agricultural supplier. The $122 a share cash offer - the largest all-cash deal in history - values the US Monsanto group at 37% more than its closing share price on May, 9th before rumors of a bid emerged. The proposed deal has unnerved Bayer’s shareholders who fear the company is stretching its finances to build an industry giant.