Bayer and Monsanto move closer to a deal
Bayer and Monsanto came closer to agreeing a combination of their two businesses on Tuesday evening.
Bayer AG
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Monsanto Co.
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The two chemical giants had made progress on issues including the purchase price and a termination fee, Bloomberg reported, citing people familiar with the matter.
That followed meetings in recent weeks between their respective chiefs, Werner Baumann and Hugh Grant.
A tie-up would result in the largest fertilizer and seed manufacturer in the world.
There were no guarantees that negotiations would suceed but an agreement was possible in the next two weeks, barring any delays, the sources said.
Recent regulatory approval from the Committee for Foreign Investment for the acquistion of Syngentya by ChemChina was seen by some as further paving the way for the sale of Monsanto.
In July, St.Louis-based Monsanto rejected a $55bn or $125 a share offer from Bayer.
As of 1455 BST shares in Monsanto were edging higher by 0.21% to $107.33.