This morning, July 19, Monsanto announced that its Board of Directors unanimously viewed Bayer AG’s revised proposal of $64 billion as financially inadequate and insufficient to ensure deal certainty.
However, the St. Louis-based company reports that it remains open to continued and constructive conversations with Bayer and other parties to assess whether a transaction that the board believes is in the best interest of Monsanto shareowners can be realized. There is no assurance that any transaction will be entered into or consummated, or on what terms.
Morgan Stanley & Co. and Ducera Partners are acting as financial advisors, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Monsanto.
