Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

Monsanto rejects Bayer multi-billion dollar bid

Monsanto rejects Bayer multi-billion dollar bid
Euronews logo
Text size Aa Aa

Monsanto has rejected an offer worth $62 billion (55.6 billion euros) from Bayer trying to create the world’s biggest agricultural supplier.

The American multinational and leading producer of genetically modified seed said in a statement that the offer was financially inadequate.

But the company said it was open to more dialogue to see whether a transaction could be achieved.

It means the door remains open to a new agricultural and agrochemical giant.

Bayer had called its bid “an extraordinary opportunity to create a world agriculture leader”.

The German group had offered $122 (109 euros) a share in cash.

The possible merger could meet with opposition from competition authorities and critics of genetically-modified organisms.