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German pharmaceutical giant Bayer has reported strong earnings and sales for the third quarter on higher demand for prescription drugs.
Monsanto’s takeover by Bayer could create a GMO juggernaut too powerful for Europe to resist, while conveniently “disappearing” a tarnished brand, critics say. Concerns abound over concentration in the seed market.
Monsanto has rejected a second takeover bid from Bayer, calling it “insufficient”, despite the additional $3 billion (2.7 billion euros) the German drugs and chemicals giant added to its previous offer.
The German pharmaceutical giant has sweetened its buyout deal for Monsanto, which turned down an earlier offer. Bayer has added three dollars more per share, and it has its cash ready if the massive deal is accepted.
US agribusiness giant Monsanto has rejected a multi-billion takeover bid by German pharma and crop science firm Bayer, saying the offer was too low. However, they were open to further talks on a merger, they said.
A merger of the world’s biggest producers of seeds and pesticides may soon be in the making. Missouri-based Monsanto confirmed reports that it received a bid from Germany’s biggest drugs and chemicals firm Bayer.