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Monsanto rallies 17% premarket on BASF, Bayer takeover speculation

Monsanto rallies 17% premarket on BASF, Bayer takeover speculation

Monsanto has made three attempts to buy Syngenta since 2011, which all failed and eventually drove the Swiss company to agree a $44 billion sale to ChemChina, a hitherto little known Chinese group that has been striking large outbound acquisitions.

German chemical giant Bayer is looking into a bid for American agro-behemoth Monsanto, Bloomberg reported.

Both companies declined to comment on the Bloomberg report, which cited people familiar with the matter.

Bayer, which is valued at about 84 billion euros or $96 billion, has discussed how to finance a deal including potential asset sales.

In crop chemicals, competition authorities are investigating the $130 billion merger between Dow Chemical Co. and DuPont Co., while national security officials in the US are weighing China National Chemical Corp.'s bid to acquire Syngenta AG of Switzerland for $43 billion.

What Black Panther's Home, Wakanda, Looks Like in Marvel Comics
IGN already delved into the comics history of Black Panther, but what about where he's from? It should be very interesting. Wakanda has been mentioned a handful of times in the Marvel Cinematic Universe in the lead-up to Civil War .


With that said, I don't think it's time to change your investment thesis on Monsanto given today's rumors. Among consumer companies, Kraft Heinz rose $1.14, or 1.3 percent, to $86.34 and Coca-Cola added 37 cents to $45.83.

BASF also declined comment on the report. Corn and soybean prices fell in the last three calendar years, cutting net farm income in the USA and hurting demand for everything from tractors to weedkiller.

If the bid materializes it will help the company to spread the risk and move away from its dependence on agricultural products. Monsanto is a leading manufacture of herbicides, pesticides and modified seeds.

Bayer and its financial advisers have been studying for weeks how a combined company would be structured. Strategy head Werner Baumann took over from CEO Marijn Dekkers this month.

Rumblings of a possible buy-out floated around in March, with Monsanto then saying that it sought to buy rather than be sold. Despite the increase, they have remained below 300,000 for more than a year.


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