Sector News

Monsanto exploring deals, including BASF agriculture unit buy: BBG

July 14, 2016
Food & Drink

Seed company Monsanto Co, which rejected Bayer AG’s buyout offer in May, is exploring various transactions, including the acquisition of BASF’s agriculture-solutions unit, Bloomberg reported.

In return, BASF would likely receive newly issued shares in Monsanto, Bloomberg said, citing people familiar with the matter.

The discussions are at an early stage, and no final decisions have been made, the report said, citing the people. Talks with Bayer are continuing, sources told Bloomberg.

Monsanto and BASF could not be reached for comment outside regular business hours.

A Bayer spokesman said the company did not comment on rumors or speculation.

Monsanto’s board is split over the merit of potential deals with rivals BASF and Bayer with some executives keen to remain independent and others preferring a takeover, Bloomberg reported, citing a source.

By Subrat Patnaik

Source: Reuters

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