Seed company’s shares grow after news of $43bn takeover interest
Shares in US company Monsanto grew by more than eight per cent today after it was reported to be the subject of takeover interest from Germany.
It is thought the deal would create the world’s largest seed and farm chemicals provider.
Read more: Syngenta agrees to takeover by ChemChina worth over $43bn
German company Bayer has held preliminary discussions internally and with advisers, Bloomberg first reported.
Monsanto is valued at around $43bn (£30bn), while Bayer is said to be worth around €79bn (£62bn).
The share price of Monsanto was up around 8.6 per cent to $98.06 shortly before 4pm in the US on Thursday.
Bayer’s share price, meanwhile, fell nearly five per cent to €95.15.
Read more: Monsanto gives up £30bn chase
This time last year, Monsanto was pursuing a similar sized takeover itself. The New York-listed group gave up on its $46bn pursuit of Syngenta last August after its Swiss rival rejected a bid.
This was the third approach led by Monsanto boss Hugh Grant, after previous attempts in 2011 and 2012.
Monsanto and Bayer have been asked for comment.