Chemical firm Bayer makes $62B offer for Monsanto

May 23, 2016 6:22 AM

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BERLIN - German drug and chemicals company Bayer AG says it has made a $62 billion offer to buy U.S.-based crops and seeds specialist Monsanto Company.

Bayer said Monday that the all-cash offer values Monsanto shares at $122 each. It said in a statement that the acquisition “would be a compelling opportunity to create a global agriculture leader, while reinforcing Bayer as a life science company with a deepened position in a long-term growth indust...

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