Bayer AG
inched closer to clinching a deal to buy Monsanto Co. by increasing its bid to
$65 billion.
There
are still some issues to be resolved, such as what must be sold to satisfy
antitrust regulators in a number of countries where both do business.
Monsanto said its
negotiations with Bayer continue, adding that it is also evaluating proposals
from others which it did not name.
It cautioned that there was no certainty
that any deal would occur.
Bayer’s
bid was already the largest all-cash proposed takeover on record. It could make
Bayer the largest farm-supply company, but there are close competitors.
ChemChina
agreed earlier this year to buy Switzerland’s Syngenta for $43-billion, after
the latter rejected takeover approaches from Monsanto.
Dow
Chemical Co and DuPont are working on a $130-billion merger, which is to be
followed by a break-up into three businesses.
