According to a report from Reuters, Monsanto’s board is meeting on Tuesday to a decide whether to accept a takeover offer from Bayer (BAYRY - Free Report) . After months of negotiations, Monsanto is close to approving its sale for more than $65 billion.
Last week, Bayer disclosed a $127.50 per share cash offer for the Monsanto, the world’s largest producer of seeds. People familiar with the matter told Reuters that Monsanto’s board will accept the deal at a slightly higher valuation.
The ball will then move back to Bayer’s court; the German pharmaceuticals and chemicals giant will meet on Wednesday to consider Monsanto’s counter-offer. Reuters’ source said that the deal could still be stalled by either company’s board.
Bayer is attempting to merge its crop chemicals business with Monsanto’s seeds business in an effort to create an agricultural superpower. Bayer is currently the world’s second-largest crop chemicals maker, behind only Syngenta (SYT - Free Report) . Bayer’s offer of $127.50 per share last week was up from its original offer of $125 per share.
Shares of Monsanto slid about 1.5% in morning trading Tuesday, while shares of Bayer were down about 1%.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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According to a report from Reuters, Monsanto’s board is meeting on Tuesday to a decide whether to accept a takeover offer from Bayer (BAYRY - Free Report) . After months of negotiations, Monsanto is close to approving its sale for more than $65 billion.
Last week, Bayer disclosed a $127.50 per share cash offer for the Monsanto, the world’s largest producer of seeds. People familiar with the matter told Reuters that Monsanto’s board will accept the deal at a slightly higher valuation.
The ball will then move back to Bayer’s court; the German pharmaceuticals and chemicals giant will meet on Wednesday to consider Monsanto’s counter-offer. Reuters’ source said that the deal could still be stalled by either company’s board.
Bayer is attempting to merge its crop chemicals business with Monsanto’s seeds business in an effort to create an agricultural superpower. Bayer is currently the world’s second-largest crop chemicals maker, behind only Syngenta (SYT - Free Report) . Bayer’s offer of $127.50 per share last week was up from its original offer of $125 per share.
Shares of Monsanto slid about 1.5% in morning trading Tuesday, while shares of Bayer were down about 1%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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