Tuesday, May 24, 2016

Monsanto rejects Bayer takeover bid from – German want to talk – ABC Online

Tuesday , 05.24.2016, 23:27
Thank you for rating!

0

Report Error
You have an error found?

Please select the relevant words in the text. With just two clicks you report the error of the editors.

Bayer must at his planned billion acquisition of controversial US agricultural chemical company Monsanto make improvements.

Monsanto rejects the current offer by Bayer in the amount of 55 billion euros from financially inadequate. The Board of Directors have unanimously decided against the offer, but is open to constructive talks, the group said.

Bayer said late on Tuesday its readiness for such talks. The offer of 122 US dollars per share in cash, however, constituted an “attractive and secure value for shareholders” represents, it said in the statement from the Leverkusen Dax -Konzerns.

MONSANTO WILL MORE MONEY

“We are pleased that the Board of Monsanto our conviction of the significant benefits of an integrated strategy for farmers and society as a whole is divided,” said Bayer CEO Werner Baumann. “We are confident that we can resolve all issues to finance and regulatory issues related to the transaction. It remains our goal to bring this compelling transaction for both sides together at the end. “

Monsanto CEO Hugh Grant had previously announced an” integrated strategy “could have significant benefits. This shows the company courted fundamental openness for merger negotiations. However, review the current supply of Bayer Monsanto as far too low. The Board of Directors have given no timetable for further talks with Bayer.

RATING AGENCIES THREATEN BAYER SUBSTANTIAL SHADES

On Monday became known that the German pharmaceutical and crop protection giant converted more than 55 billion euros provides for Monsanto. It would be one of the most expensive acquisitions of German economic history. The Group has a total of 62 billion dollars. Traders and analysts were surprised by the size of the bet. The rating agencies Moody ‘s and Fitch threatened Bayer because of the merger plans with significant credit reductions.

But not only because of the high price, also because of the bad reputation of Monsanto, particularly in Europe, the project is considered risky. The US Corporation stands for years because of its genetically modified products in the review. in addition, has long been debated about possible harmful effects of the substance glyphosate, the use Monsanto in its most popular weed killer “Roundup”. Bayer can be from image problems, however, put off .

BAYER bOSS BUYS IN GREAT STYLE SHARES oF tHE UNDERTAKING

want the Leverkusen ascend with the acquisition of the world’s largest agrochemical manufacturer. CEO Werner Baumann defended the plan against reservations after shareholders skeptical reacted to the announcement of the takeover intent. the agribusiness stand in view of the rapidly growing world population and global warming before gigantic challenges. Through a merger Bayer and Monsanto could give pioneering answers here, so Baumann. Of the agriculture, but also the private shareholders would benefit.

As if to underscore its determination, the Bayer CEO revealed itself in a big way with his company’s shares during the billion-offer. since Monday alone has acquired shares for nearly one million euros of only been three weeks acting head of Dax Group, as is apparent from voting rights notifications. Overall Baumann bought 11,000 Bayer shares. In this he played a significant advantage of the papers in the cards – because the price has fallen sharply since the rise of speculation about a takeover by Monsanto

.
 

Thank you for rating!

0

LikeTweet

No comments:

Post a Comment