Germany’s Bayer makes $62 billion offer for Monsanto

BERLIN (AP) — German drug and chemicals company Bayer AG announced Monday that it has made a $62 billion offer to buy U.S.-based crops and seeds specialist Monsanto.
The proposed combination would create a giant seed and farm chemical company with a strong presence in the U.S., Europe and Asia.
Bayer said the all-cash offer values shares of Monsanto at $122 each. That compares with a closing price Friday of $101.52 and is 37 percent higher than the closing price of $89.03 on May 9, the day before Bayer made a written proposal to Monsanto.
Bayer has 640 employees in the Research Triangle with its crop science division, according to its website. Bayer also has an Innovation Center in Morrisville and a Development and Training Center in Clayton.
Monsanto announced in October it would be closing its research and development site in the Research Triangle Park.
Bayer had said on Thursday that its executives met

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